Housebuilder also cuts land purchases, with it forced to scrap proposals for 3,293 plots
Business live updates: ‘Marked slowdown’ in UK housing market
Britain’s largest housebuilder, Barratt Developments, has introduced a hiring freeze and is “significantly” cutting back on buying land as it steels itself for a further slump in the UK housing market.
Barratt said it was responding to a “marked slowdown” in the UK housing market, after a rise in interest rates that has made mortgages more expensive for prospective homebuyers.
Housebuilder also cuts land purchases, with it forced to scrap proposals for 3,293 plotsBusiness live updates: ‘Marked slowdown’ in UK housing marketBritain’s largest housebuilder, Barratt Developments, has introduced a hiring freeze and is “significantly” cutting back on buying land as it steels itself for a further slump in the UK housing market.Barratt said it was responding to a “marked slowdown” in the UK housing market, after a rise in interest rates that has made mortgages more expensive for prospective homebuyers. Continue reading…
