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Housebuilder Barratt expects to build fewer homes in the coming year than it did over the 12 months to June, highlighting the difficulties the industry and government face in ramping up housing supply. 

The FTSE 100 group, on the UK’s largest housebuilders, said completions will fall by 3 to 7 per cent to 13,000-13,500 in the year to June 2025. It said the decline would be “temporary” and was because of having fewer sales outlets “due to lower land buying activity in 2022 and 2023”.

The update comes two days after the new Labour government announced detailed policy proposals to get “Britain building again”.

The forecasts underscores the challenge facing the Labour government in boosting housebuilding at a time when private developers are struggling to weather a period of low buyer demand brought on by higher mortgage rates.