Barratt brings in hiring freeze as UK housing market slows down

1 year ago 60

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.

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