Budget decisions by the Chancellor pose a potential risk to the demand for new housing, according to the chief executive of Barratt Redrow.
In the world of finance and housing, there have been some significant developments that have caught the attention of investors and homebuilders alike. Let's delve into these updates.
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Moving on, the British construction company Barratt Redrow has raised concerns about the potential impacts of a late Budget on the industry's growth. The firm, which built 16,565 homes last year, a decrease from the previous year's 17,972, has set a target to build between 17,200 and 17,800 homes in the year to the end of next June. David Thomas, CEO of Barratt Redrow, described the 2024 acquisition of Redrow as 'transformative'.
The warning from Barratt Redrow has cast fresh doubt on the achievability of Labour's housing target to build 1.5 million homes in this parliament. Russ Mould, analyst at AJ Bell, expressed concern that the timing of the Budget could lead to uncertainty during the autumn selling season, potentially affecting the demand for homes in Britain.
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In other news, the Chancellor whose budget plan has unsettled the British construction industry is not named in the provided search results. The relevant current German Chancellor mentioned are Olaf Scholz (until May 2025) and his successor Friedrich Merz, who presented the 2025 budget reforms in Germany.
Lastly, the firm expressed concern over the Chancellor's Budget plans and the decision to delay it until November 26. The late Budget could potentially have significant implications for both the investment and realtor sectors.
Stay tuned for more updates as these developments continue to unfold.
