Barratt Redrow Posts 12 Percent Drop in Completions
British homebuilder Barratt Redrow reported a 12 percent drop in home completions and slower private bookings. Elevated mortgage rates and construction costs continue to weigh on housing demand.
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Barratt Redrow posted a 12% fall in home completions to 3,223 units and pointed to slower bookings across the United Kingdom during the 17 weeks to October 25. Elevated borrowing costs and persistent mortgage pressures weighed heavily on residential demand. The drop highlights ongoing headwinds for major developers as construction expenses rise.
