Member Article

Dorset housebuilder announces strong H1 performance amid uncertain market

Barratt Developments, made up of Barratt Homes and David Wilson Homes, has announced a strong half-year performance during a challenging macroeconomic backdrop. 

The company, which is building homes across Dorset, recorded 6,171 house completions in the six-month period ended 31 December 2023, and is on track to deliver a total of 13,500 to 14,000 home completions, including joint ventures, in 2024. 

And during a testing economic time for the housing market, the leading developer has announced a £157.1m profit before tax. 

James Dunne, Managing Director of Barratt and David Wilson Homes’ Southampton Division, said that despite the challenging times, Barratt remains focused on delivering high-quality, energy-efficient, and well-designed homes for its customers. 

He said: “Whilst our operating environment is still challenging, we continue to lead the industry in customer service, build quality and sustainability. We have been rigorous in carefully controlling our build activity, managing our costs, being highly selective in land buying, and driving revenue. These clear priorities have helped maintain the strength of our balance sheet despite lower levels of profitability and ensure we remain resilient and responsive through the cycle.” 

Demand for Barratt’s homes remains strong, and James added: “Since the start of January, we have seen early signs of improvement in both reservation rates and buyer sentiment, helped by expectations of lower interest rates and the introduction of more competitive mortgage rates. I would like to thank our sub-contractors and our suppliers for their commitment and hard work as we continue to deliver for our customers, stakeholders, and shareholders.” 

Barratt Developments’ continued industry leadership in quality and customer service has been recognised through a nineteenth successive year of achieving more NHBC Pride in the Job Awards than any other housebuilder and a fourteenth consecutive year of receiving the HBF maximum 5 Star customer satisfaction rating. 

The developer has also made significant progress in its sustainability efforts, both onsite, and via its Zed House and eHome2, within its Energy House 2.0 at Salford University. This important facility continues to provide important data as the effects of climate change are tested and the ways new houses can cope with more extreme weather conditions whilst cutting energy and water usage, are also examined. Barratt has also maintained its position as the ‘Leading National Sustainable Housebuilder’ in the industry specific NextGeneration awards, receiving the “Gold Award” for the eighth consecutive year, as well as the “Crystal Award”, for Transparency, for a fourth year.  

This was posted in Bdaily's Members' News section by Barratt Homes .