Barratt predicts 25% completions slump for 2024

By Joey Gardiner2023-07-13T09:17:00

Housebuilder says private reservations have dropped back significantly in recent weeks amid soaring bank rates

The UK’s biggest housebuilder has said it expects completions in the financial year to June 2024 drop by nearly 25% given a big drop off in reservations in the last month as interest rates have surged.

In an end of year trading update Barratt said it had completed 17,206 homes this year, marginally above the 17,000 forecast, but said it expects this to fall to between 13,250 and 14,250 next year, a drop of as much as 23%.

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