Why we as Barratt Redrow expect to build 22,000 homes a year

We have now officially become Barratt Redrow.

It’s a milestone moment for us and the industry, the largest acquisition and merger in years. It will benefit our customers, our employees and our shareholders. It’s a win-win, taking the best from each to form a truly exceptional housebuilder.

We have brought together three highly respected and distinctive brands – Barratt Homes, David Wilson Homes and Redrow, plus we have Barratt London as a leading homebuilder in the capital. We also have a proven track record of successfully integrating and nurturing brands, as evidenced by past acquisitions such as David Wilson Homes, Oregon Timber Frame and Gladman Developments.

Together we have this unique opportunity to create a stronger business, preparing us for the future. We have a strong portfolio of sites and land pipeline to accelerate delivery and have already identified sites where we believe we can deploy additional brands to drive our sales and build out rates.

Experience has shown us that multiple brands on site drives delivery and means we can serve more customers with a broader product range, at more price points, on more sites across a wider geographic footprint. 

Our focus is on achieving a smooth integration of the Redrow business. This inevitably includes some challenges, for instance optimising and rationalising our structure.

 We also share common values and have a shared commitment to well-designed developments, with high quality homes and excellent customer service. If you look at external platforms such as Glassdoor and Trustpilot, our ratings from employees and customers are aligned and industry-leading.

We expect to grow volumes towards 22,000 homes a year in the medium-term. (Barratt on its own completed around 14,000 homes in the 12 months to June 2024 and forecasts between 16,600 and 17,200 homes through the enlarged business this year). 

And ultimately, we will build an even stronger and more resilient business. We are the top housebuilder in the FTSE100. Number one on stock market value.

Number one on sustainability, and number one on quality & service. We support nearly 70,000 jobs through the supply chain and will invest significantly in affordable homes and community infrastructure.

>>Read more: Barratt Redrow set to close nine divisions as part of streamlining initiative

>>Read more: A tale of two mergers: What do the completion of Barratt-Redrow and the collapse of Bellway-Crest Nicholson mean for Labour’s housebuilding plans?

Our focus in the near term is on achieving a smooth integration of the Redrow business. This inevitably includes some challenges, for instance optimising and rationalising our divisional and office structure, and we have already started that process. 

It will take some time for customer confidence to fully recover from the macroeconomic headwinds faced over the past two years

While customer demand continues to be sensitive to the wider economy, we are beginning to see more stable market conditions with increased mortgage availability and affordability. It will take some time for customer confidence to fully recover from the macroeconomic headwinds faced over the past two years, but we are encouraged by what we have experienced over recent weeks.

So overall this is a really exciting new chapter for our business. Barratt Redrow is uniquely well positioned and we look forward to the next 60 years continuing to build the homes this country needs.

David Thomas, chief executive, Barratt Redrow