Barratt Developments, Construction industry, Business, UK cost of living crisis, Property, Real estate, Annual results, UK news, Mortgage rates, Mortgages, Redrow Business | The Guardian
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…
Cost of living crisis, higher mortgage rates and weak consumer confidence weigh on housing market in past year
Barratt 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.
