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Barratt Redrow Slashes Home Approvals Amid Rising Costs

4/15/2026

Summary

Story summary

Barratt Redrow plans to approve 7,000–9,000 plots this financial year, down from 10,000–12,000, due to geopolitical events raising mortgage rates and construction costs.
This reduction pressures Labour's 1.5 million new homes target over five years.
In London, 2,103 private homes began construction in early 2026, triggering emergency government measures.
The chief executive still expects to meet sales targets, while the share price has fallen about 40% in the past year.

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Story summary

Barratt Redrow plans to approve 7,000–9,000 plots this financial year, down from 10,000–12,000, due to geopolitical events raising mortgage rates and construction costs.
This reduction pressures Labour's 1.5 million new homes target over five years.
In London, 2,103 private homes began construction in early 2026, triggering emergency government measures.
The chief executive still expects to meet sales targets, while the share price has fallen about 40% in the past year.