Tuesday, July 23, 2024

Barratt Developments to build fewer homes in coming year

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Labour’s ambitious plans to “get Britain building again” have been dealt a blow after one of the country’s biggest developers warned it would build fewer homes in the coming year.

Barratt Developments expects to deliver between 13,000 and 13,500 flats and houses between now and the end of June 2025, down from 14,004 over the past year. This was already Barratt’s lowest annual output since 2013, excluding the lockdown-hit 2020.

Sir Keir Starmer has pledged to build 1.5 million homes over the next five years in an attempt to ease the UK’s housing shortfall, and will rely on the major housebuilders, including Barratt, to deliver the bulk of them.

Amid the housing market slowdown of the past 18 months, Barratt slowed new site openings while

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