{
  "id": 7728206,
  "title": "Barratt Redrow trims housebuilding targets amid ‘challenging’ backdrop",
  "url": "https://urgent.news/2026/09/16/barratt-redrow-trims-housebuilding-targets-amid-challenging-backdrop",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-16T06:24:23.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/barratt-redrow-trims-housebuilding-targets-amid-challenging-backdrop/"
  },
  "original_language": "en",
  "account": "Barratt Redrow has reduced its housebuilding targets amid a \"challenging\" market situation. The FTSE 250 housebuilder is cutting expenses and slashing costs to cope with a backdrop of rising building costs and dwindling housing demand due to the Iran war. Chair Caroline Silver stated that a more promising start to 2026 was derailed by the start of the Middle East conflict and its associated risks, including energy cost increases, supply chain disruptions, and inflation. The firm now anticipates completing 17,500 to 17,900 homes in 2025, down from the previous expectation of 17,700 to 18,200. In the year to June, Barratt Redrow built 17,667 homes, marking a 5% increase from the previous year, with revenue rising by 6.6% to £6bn. Pre-tax profit grew by a third to £363.5m. CEO David Thomas acknowledged the company's strong operational and financial performance but called for government intervention to accelerate housing production and make homes more affordable for first-time buyers. Thomas, who will be succeeded by Dean Banks, urged the government to remove obstacles to home ownership and address the increasing regulatory and tax burdens the industry faces. Earlier this summer, Barratt joined with homes portal Rightmove in urging Labour to abolish stamp duty for first-time buyers, a demand supported by other housebuilding rivals such as Berkeley and Bellway.",
  "summary": "Barratt Redrow has trimmed its housebuilding targets but insisted it is well positioned to face up to a “challenging” outlook as its new boss prepares to take the reins. The FTSE 250 housebuilder said it is cutting back on spending and slashing costs to keep up with a “challenging backdrop”, as building costs surge and [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "City AM",
        "title": "Barratt Redrow hopes to defy housebuilding gloom by splashing cash",
        "url": "https://urgent.news/2026/09/15/barratt-redrow-hopes-to-defy-housebuilding-gloom-by-splashing-cash",
        "published": "2026-09-15T04:00:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}