Britain's largest housebuilder, Barratt Redrow, has reduced its homes target for the year to June 2027, blaming persistent delays within the planning system. The company now anticipates completing between 17,500 and 17,900 homes, a decrease from its earlier forecast of 17,700 to 18,200.
This downgrade adds to existing concerns regarding the pace of new housing delivery in England. Barratt Redrow also expects to operate an average of around 405 sales outlets during its current financial year, down from a previous expectation of about 415, due to these planning delays.
The announcement follows Housing Secretary Angela Rayner's recent statement that there is now only a "slim chance" of achieving the government's target of 1.5 million homes in England by the next election. Rayner noted that rising construction costs and broader economic pressures, including the Iran war, have made the target increasingly difficult to meet, although the target itself remains in place.
Analyst Anthony Codling of RBC Capital Markets highlighted that while Barratt Redrow's full-year 2026 results were in line with expectations, the market's focus would now be on the reduced outlook for 2027, confirming that planning delays continue to hinder growth ambitions.