(Reuters) -Barratt Redrow, Britain’s largest homebuilder, said on Wednesday bookings slowed during the June 30-October 26 period, as mounting economic uncertainties kept potential buyers on the sidelines.
Fears of further property tax hikes in the upcoming UK budget have dampened housing market activity during the typically busy autumn selling season, prompting Barratt Redrow to warn in September of limited growth in the new fiscal year.
“”We have delivered a resilient performance over the period despite challenging market conditions and increased uncertainty ahead of the November Budget,” Barratt Redrow CEO David Thomas said in a statement.
The company maintained its expectation for total home completions of between 17,200 and 17,800 for the year ending June 2026, but warned that performance remained dependent on the impact of the upcoming budget on demand.
Barratt Redrow said excluding joint ventures, the net private reservation rate per week – an indicator of near-term demand – slowed to 0.57, compared with 0.59 in the prior year.
It said there was no contribution from private rental sector sales and other multi-unit sales.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Subhranshu Sahu)
