Property News · September 4, 2024

Barratt profits plunge 75% as number of houses built slumps


Cost of living crisis, higher mortgage rates and weak consumer confidence weigh on housing market in past yearBarratt Developments has suffered a 75% drop in annual profit and a double-digit decline in home completions after a “challenging” year for Britain’s biggest housebuilder.The company said the past year had proved tough for the housebuilding industry and potential buyers, as cost of living pressures, much higher mortgage rates and weak consumer confidence weighed on the housing market. Continue reading…

Source : theguardian.com
Read more…Barratt profits plunge 75% as number of houses built slumps

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