Completions rise at Barratt Redrow, firm says in update

Barratt Redrow has reported an increase in completions and a rise in the value of its forward order book.

In a trading update for the 17 week period from 30 June to 26 October, the housebuilding giant revealed it had built 3,665 homes across the period.

This was up 8% on the 3,396 homes built in the 17-week period from 1 July 2024 to 27 October 2024 - the comparator period used across the whole trading update.

The size of its forward order book, including joint ventures, at the end of the period was 10,669 homes, which was marginally down in pure number terms from 10,706 at the end of the comparator period in the year prior.

But the value of the order book was slightly higher at £3.28bn, compared with £3.21bn.

Chief executive David Thomas said the firm had delivered a “resilient performance” in a challenging market and that it continued to target sustainable growth in the medium term to reach 22,000 home completions a year.

“In the meantime, it is essential that government policy continues to prioritise planning reform, removes barriers to investment and, crucially, supports homebuyers, especially first-time buyers, if the sector is to accelerate volumes to help meet the country’s housing needs,” he said.

The firm will release its interim results on 11 February next year.