Barratt Redrow plc (LSE:BTRW) reported a 12.1% decline in home completions during the first 17 weeks of its 2027 financial year, as affordability pressures continued to affect private housing demand.
The UK housebuilder completed 3,223 homes, including joint ventures, between 29 June and 25 October 2026, compared with 3,665 homes in the corresponding period last year. The company maintained its full-year guidance despite softer underlying private reservation rates.
Private Reservations and Sales Activity
Barratt Redrow reported an underlying private reservation rate of 0.53 per outlet per week, compared with 0.57 in the prior-year period.
However, reservations from the private rental sector and other multi-unit transactions contributed an additional 0.06, bringing the total private reservation rate to 0.59, up from 0.57 a year earlier.
The group generated an average of 243 private reservations per week, including joint ventures, compared with 228 in the corresponding period of FY2026.
The average number of active sales outlets, including joint ventures, increased slightly to 406 from 402.
Home Completions and Forward Order Book
Total home completions declined to 3,223 units from 3,665, representing a year-on-year decrease of 12.1%.
At 25 October 2026, Barratt Redrow’s forward order book, including joint ventures, stood at 11,086 homes, compared with 10,669 homes a year earlier.
The value of the forward order book increased to £3.32 billion from £3.28 billion.
The company was 56% forward sold against its expected FY2027 private home completions, compared with 60% at the same point last year.
Of those forward sales, 62% had either completed or exchanged contracts, compared with 64% in the prior-year period.
Housing Market Conditions and Government Support
Barratt Redrow said affordability constraints continued to weigh on demand from individual homebuyers, although the private rental sector provided additional reservation activity.
The company welcomed the government’s proposed Your First Home scheme, which is intended to support first-time buyers and housing delivery.
However, management said it was too early to assess whether the initiative would have a measurable effect on buyer activity during FY2027.
The group also highlighted planning reform as a potential longer-term factor in increasing housing supply.
FY2027 Outlook Maintained
Barratt Redrow reaffirmed its existing guidance for the financial year ending 30 June 2027.
Management said its operational priorities remain focused on cost efficiencies, disciplined land investment and controlling work in progress.
The company continues to monitor housing affordability and customer demand as it progresses through the financial year.
More About Barratt Redrow
Barratt Redrow plc is a UK residential property developer formed through the combination of Barratt Developments and Redrow. The group develops and sells new-build homes across the UK through its housing brands and joint venture operations.
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