Barratt Redrow has right now printed its newest buying and selling replace providing perception into the state of the housebuilding sector, and the way it’s navigating challenges equivalent to mortgage affordability, planning uncertainties, and rising constructing security prices.
The timing is especially vital, with ongoing debate over potential property tax reforms and adjustments to laws more likely to affect market circumstances.
This newest replace, see beneath, follows Barratt Redrow’s first-quarter (Q1) 2026 gross sales and income efficiency, for the yr ended 29 June 2025. Income rose 33.8% to £5.58bn, whereas statutory pre-tax revenue elevated 60.5% to £273.7m.
Adjusted pre-tax revenue, excluding buy worth allocation from its merger, reached roughly £591.6m, barely above consensus expectations.
The corporate accomplished 16,565 properties, up 18.3% year-on-year, however fell in need of its steering of 16,800–17,200 properties.
Barratt Redrow plc – AGM Buying and selling Replace:
Barratt Redrow plc (the ‘Group’) is right now issuing a buying and selling replace for the 17-week interval from 30 June 2025 to 26 October 2025 (the ‘interval’). All comparatives are to the 17-week interval from 1 July 2024 to 27 October 2024 until in any other case acknowledged. Barratt Redrow plc’s 52-week FY26 reporting interval will finish on 28 June 2026.
David Thomas, chief government, commented: “We now have delivered a resilient efficiency over the interval regardless of difficult market circumstances and elevated uncertainty forward of the November Finances. In the long run, the basics of UK housing demand are unchanged, and Barratt Redrow is uniquely nicely positioned with three sturdy client manufacturers, a top quality land financial institution, and the monetary power to take a position by the cycle.
“We stay centered on operational excellence as we goal sustainable development over the medium time period to succeed in 22,000 dwelling completions per yr. Within the meantime, it’s important that authorities coverage continues to prioritise planning reform, removes limitations to funding and, crucially, helps homebuyers, particularly first-time consumers, if the sector is to speed up volumes to assist meet the nation’s housing wants.”
Buying and selling efficiency
The online personal reservation fee per week within the interval was 0.572 (FY25: 0.59), nevertheless there was no contribution from gross sales to the personal rental sector and different multi-unit gross sales (FY25: 0.04). Over this era the Group generated 228 web personal reservations, together with JVs, per week (FY25: 255) working from a mean of 402 gross sales shops (together with JVs) (FY25: 433). (Appendix I a).
The ahead order guide (together with JVs) at 26 October 2025 totalled 10,669 properties (27 October 2024: 10,706 properties) at a worth of £3,281.4m (27 October 2024: £3,206.0m). (Appendix 1 b).
Complete dwelling completions within the interval had been 3,665, 7.9% forward of the comparable interval complete of three,396 properties. (Appendix 1 c).
Primarily based on unchanged steering for FY26, at 26 October 2025 the Group was 60%3 ahead bought with respect to FY26 personal dwelling completions (FY25: 62%4 ahead bought), of which 64% are both accomplished or exchanged (FY25: 65%).
Redrow – price and income synergies replace
We stay on observe to ship £100m of price synergies with confirmed synergies now at £80m, a rise of £11m from the £69m confirmed at 29 June 2025. An incremental £45m of price synergies might be delivered in FY26.
Our head workplace integration is progressing nicely, with restructuring of groups accomplished and overhead prices being rationalised. The transition of Redrow onto Barratt programs, which started in April 2025 might be accomplished throughout FY26. Our procurement programme is efficiently harmonising shopping for phrases and making certain the buying scale of Barratt Redrow is optimised.
With respect to income synergies, we have now now submitted 26 planning functions for incremental gross sales shops (16 at 29 June 2025) and secured approval on 13 shops (5 at 29 June 2025). With good progress to this point, we stay assured in delivering 45 incremental gross sales outlet openings by the tip of FY28.
Land
Our complete owned and managed land financial institution, at 29 June 2025, stood at c. 100,000 plots and equated to six.2 years of provide, primarily based on FY25 completions. This included c. 87,700 owned plots with an additional c.12,300 plots contracted or managed. We maintain a top quality, geographically diversified and commercially positioned land financial institution with 68% of the owned land financial institution plots carrying detailed planning consent.
As well as, by our strategic land positions, at 29 June 2025, Barratt Redrow held c.145,000 strategic plots, additional complemented by Gladman’s promotional land portfolio of c. 114,000 plots.
We count on land acquisition exercise to broadly equate to alternative ranges over the approaching two to 3 years with a rising proportion of the present land financial institution being secured from our strategic land positions, reflecting the momentum established during the last 18 months focusing on strategic land conversion.
Outlook
Primarily based on the stable reservation exercise we have now skilled because the begin of the brand new monetary yr, our FY26 steering for complete dwelling completions stays unchanged at between 17,200 and 17,800 properties with round 40% of completions anticipated to be delivered within the first half reflecting the everyday seasonality of our completions. Our FY26 efficiency stays depending on regular seasonal buying and selling patterns for the rest of the monetary yr and the impression of the upcoming Finances on demand.
While we stay inspired by the Authorities’s deal with housebuilding and its reforms to the planning system, accelerating supply may even require motion to help demand, which can in the end drive housebuilding exercise and create the properties, jobs and financial development the nation wants. It is important that Authorities coverage is concentrated on making a constructive, secure and predictable setting for institutional and personal homebuyers, in addition to homebuilders and our provide chain companions.
We stay centered on the important thing operational drivers of accelerating income, controlling prices, sustaining land funding self-discipline and main the business on customer support, construct high quality and sustainability. We’re persevering with to execute the combination of Redrow at tempo, delivering efficiently towards our price and income synergy targets. With our three main manufacturers and our deal with operational excellence mixed with a robust land financial institution, sturdy stability sheet and a stable ahead gross sales place, we consider we’re nicely positioned as we transfer by FY26.
Annual Common Assembly
The Group might be holding its AGM at 11.00am right now on the places of work of Linklaters LLP, One Silk Road, London, EC2Y 8HQ. There may even be a reside webcast of the AGM and the power to submit questions through the assembly. Full particulars on methods to entry the webcast might be discovered within the Discover of AGM.
Yr finish and reporting dates
Reflecting the Group’s transfer to a 52-week reporting cycle, interim outcomes, for the 26 weeks to twenty-eight December 2025, might be launched on Wednesday 11 February 2026 and FY26 outcomes, for the 52 weeks to twenty-eight June 2026, might be launched on Wednesday 16 September 2026.
