What makes us different

We have established a comprehensive customer insight programme that provides a deep understanding of the evolving needs of our customers and those in the market, informing decision-making across the business.

Our three brands are tailored to different parts of the market, with Barratt Homes providing a high quality, value offer, often aimed at first-time buyers, David Wilson catering for those taking the next step on the property ladder, and Redrow being a premium product, which is popular with downsizers.

Our team takes pride in delivering homes to the highest standards. This year, we were delighted that 122 of our site managers won Pride in the Job awards, more than any other housebuilder for 22 years in a row.

We are extremely proud of our track record in achieving exceptional customer satisfaction. This is recognised by external benchmarks including the HBF Star awards scheme, where customers are surveyed on quality and service, eight weeks and nine months post purchase; the survey became more challenging this year, with the required customer rating increasing from “recommend” to “very satisfied”. Barratt Redrow gained a 5-Star award for the 17th successive year and ranked amongst the highest of the major housebuilders. HBF’s most recent customer satisfaction survey (Q1 2026) found that 94.1% of Barratt Redrow homebuyers are “very satisfied”.

Our positive experience of dual-branding sites over nearly 20 years was an important rationale for the Redrow acquisition. With multi-branded developments, we can work on different parts of a development in parallel, to reach a wider customer base and enable us to turn our investment in land faster. We expect this benefit to outweigh the cost we incur in opening an additional outlet on the development site, ultimately improving our return on capital employed.

Our upgraded guidance in February 2025 was to deliver £100m of cost synergies from the Redrow acquisition. £20m were achieved and benefitted financial performance in FY25 with a further £53m delivered in FY26, leaving a balance of £27m. Of this, c. £19m relates to procurement synergies where the benefit of savings takes time to be reflected in the site margin and therefore will not be fully realised until the end of December 2027.

As well as securing synergies from the Redrow acquisition we are also maintaining a highly disciplined approach to managing our ongoing cost base. During FY26 this has involved a freeze on recruitment, other than essential role replacement and other costs.

During FY26 we deliberately moderated our future land investment commitments. Over the year, we approved 3,029 plots for purchase across 27 sites, compared to initial guidance of between 10,000 and 12,000 plots prior to the conflict in the Middle East. Accordingly, investment in land purchases and the settlement of land creditors was lower at £626.8m (FY25: £862.5m).

To ensure we maintain and build our competitive advantage, we are continually evaluating opportunities which drive efficiency and which mean we are delivering the most modern and sustainable product we can.

Maintaining a strong financial position and liquidity is a key priority, given the seasonal and cyclical nature of housebuilding, which can give rise to volatility in cash flows.

Furthermore, our balance sheet position fluctuates through the year reflecting our build and sales cycles, as we invest in housebuilding work in progress and subsequently, receive the cash flows from home completions.

For FY26, our stated policy was to pay a dividend equivalent to 50% of adjusted earnings before PPA charges associated with the Redrow acquisition, and to supplement this with a share buyback of at least £100m. The share buyback was completed on 8 May 2026.

As set out in our trading update on 15 July 2026, the Board has reviewed the Group’s capital allocation framework to ensure it continued to support our long-term strategy, while also taking account of the views of our shareholders and the evolving macro-economic environment.

In view of the material discount to tangible net assets at which our shares have traded, particularly since the outbreak of the conflict in the Middle East, the Board decided there was an opportunity to optimise shareholder returns through additional share buyback activity. This decision also reflects the overall strength of the business and its balance sheet.

We recognise that our business depends on, and impacts nature across its value chain, and we are committed to understanding these interactions and taking steps to address them. Species Enhancement Plans focus on locally vulnerable species which we are developing with the support of the RSPB. We are also delivering specific “homes for nature” plans, in line with the initiative, integrating nest bricks, boxes and hedgehog highways, as well as additional features, such as bat roosts, insect bricks and hibernacula, on 24 developments during the year. We supported continued development of the Future Homes Hub sustainability metrics and the Homes for Nature reporting process as a signatory of this key commitment.

We aim to embed measurable wellbeing, resilience, and placemaking outcomes into our developments through the integration of nature, enhanced accessibility, active travel, and high-quality, customer-focused design. This includes strengthening the connection between nature and health within the design of our developments.

We strive to build a diverse, respectful and inclusive culture where everyone can achieve their potential. We have established a framework of policies and initiatives to ensure that we are supporting talent, recruiting from a diverse range of backgrounds, and that health, safety and wellbeing are prioritised for our people and our partners.

We are committed to respecting human rights and preventing modern slavery across our operations and value chain, in line with the UK Modern Slavery Act 2015, the UN Guiding Principles on Business and Human Rights, and OECD due diligence guidance. We recognise the elevated risks within construction supply chains and our responsibility to identify, mitigate and address them.

We are an accredited Living Wage Employer, and we promote the payment of the real Living Wage within our UK supply chain through our standard subcontractor terms and conditions. Where we find instances of non-compliance, we require this to be rectified. For those working in jurisdictions other than the UK, our expectation, set out within our contract, is that local statutory minimum wage terms are met.

We continue to demonstrate excellent performance in external benchmarks. We have been recognised for the quality and transparency of our climate and environmental disclosures, achieving an A rating from CDP for climate change for the fourth consecutive year and an A for our Supplier Engagement Assessment.

MSCI continues to be a priority benchmark for the Group, and we have maintained our status as a ‘Leader’ under their ESG rating, whilst we have been identified as a 2026 ESG Leader by Sustainalytics. We are also pleased to be once again listed in TIME Magazine’s ‘World’s Most Sustainable Companies 2026’.