Barratt Redrow (LON: BTRW), the UK housebuilder formed when Barratt bought Redrow, kept its guidance for the year to the 30th of June 2027 this morning while reporting softer private demand. Its underlying private reservation rate, the weekly pace of buyer reservations, slipped to 0.53 from 0.57.
Shares closed yesterday at 319.0p, down 4.7% from 334.6p on Monday, about 20% below the 12-month closing high of 400.6p and about 32% above the closing low of 241.2p on the 19th of May. So far this morning, BTRW is up 0.3%.
The update covers the 17 weeks from the 29th of June to the 25th of October. The forward order book, including joint ventures, edged up to £3,315.4m, or 11,086 homes, from £3,281.4m and 10,669 a year earlier. Completions including joint ventures fell to 3,223 from 3,665. Wholly owned completion guidance still centres on 17,100 homes.
Chief executive Dean Banks described trading in the period this way:
Our trading performance in the first 17 weeks of the financial year has been resilient against a backdrop of challenging market conditions, with continued pressure on affordability. While the underlying private reservation rate has been softer, we have seen stronger demand from the private rental sector.
Dean Banks, Barratt Redrow
The headline rate rose to 0.59 from 0.57 because private rental sector and other multi-unit sales added 0.06, against nil a year earlier, while the underlying rate fell. Forward sales cover 56% of FY27 private completions, against 60%.
| Measure | 17 weeks to 25 October 2026 | Comparable 2025 |
|---|---|---|
| Underlying private reservation rate (per week) | 0.53 | 0.57 |
| Total private reservation rate (per week) | 0.59 | 0.57 |
| Private reservations per week incl. JVs | 243 | 228 |
| Completions incl. JVs | 3,223 | 3,665 |
| Forward order book (£m) | 3,315.4 | 3,281.4 |
| Forward order book (homes) | 11,086 | 10,669 |
| FY forward sold, private completions | 56% | 60% |
| Average outlets incl. JVs | 406 | 402 |
Of the forward-sold private homes, 62% have completed or exchanged, against 64%. Average outlets, or selling sites, edged up to 406 from 402.
The company said it is too early to assess the impact of the Government’s Your First Home scheme on first-time buyer activity in this financial year. The AGM is at 11am today.