Barratt Redrow Cuts Sales Outlook Amid Economic Uncertainty

Barratt Redrow, Britain's largest housebuilder, has lowered its home sales outlook for the 2027 financial year and slowed its pace of land acquisition. The company now expects between 17,500 and 17,900 completions, a decrease from its previous estimate of 17,700 to 18,200.

Despite the revised outlook, the firm reported a 48% increase in pre-tax profit to £363.5 million for the year ending June 28, supported by 17,667 completed sales and internal cost-reduction measures. The company attributed the decline in consumer confidence and rising mortgage rates to the conflict between Iran and the US-Israel alliance that began in February 2026.

Chairwoman Caroline Silver stated that current government planning reforms are insufficient to tackle the housing crisis. Other industry players reported similar pressures, with Kier Group halting new property development investment and Berkeley Group calling for urgent stamp duty reform to support property demand.