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Barrett Redrow said it has sold more homes in recent months but warned demand could be hit by autumn next year Budget,
The UK’s largest housebuilder met Government Updating investors on their recent turnover as well as supporting first-time buyers.
The company completed sales of 3,665 homes between July and the end of October, an increase of about 8% compared to the same period last year.
However, it saw a slowdown in bookings compared to last year, indicating weak confidence among potential buyers.
Barrett Redrow still expects to complete sales of between 17,200 and 17,800 homes during the fiscal year.
But it added that this performance was dependent on normal seasonal activity over the remainder of 2025 and the impact of the upcoming Budget on demand.
This comes amid speculation that chancellor The budget could see changes to property taxes to help raise more money, with macroeconomic concerns and a weak jobs market hitting the sector.
Rachel Reeves In a speech on Tuesday he declined to repeat the commitment in Labour’s manifesto not to raise income tax, national insurance or VAT, saying “we all have to contribute”.
David Thomas, chief executive of Barrett Redrow, said: “Despite challenging market conditions and increased uncertainty ahead of the November Budget, we have delivered a resilient performance over the period.
“In the long term, the fundamentals of UK housing demand are unchanged, and Barrett Redrow is uniquely well-positioned with three strong consumer brands, a high-quality land bank and the financial strength to invest through the cycle.
“In the meantime, it is necessary government policy The plan continues to prioritize reforms, remove barriers to investment and, importantly, support homebuyers, especially first-time buyers, if the sector is to accelerate volumes to help meet the country’s housing needs.
The developer called for government action to support demand for homes, amid ongoing concerns about affordability among first-time buyers.
“This sounds like a call for Help to Buy or similar to be brought back into the equation, and follows Barrett Redrow’s recent announcement of private Help to Buy-style loans,” said Ollie Creasy, head of property research at Quilter Cheviot.
It refers to a new equity home loan product designed to help buyers with small deposits acquire a property.
Mr Creasy said the move “could increase further pressure on the UK government to provide more direct aid to the struggling region”.