(Reuters) -UK homebuilder Barratt Redrow said on Wednesday its forward sales – a key gauge of near-term demand – were 10.1% lower at March-end from a year earlier but reiterated its target of building between 16,800 and 17,200 homes this year.
Mounting concerns about the outlook for the UK and the global economy amid a tariff war have further undermined confidence of potential homebuyers already struggling with elevated borrowing costs and sticky inflation.
The company said its private home order book stood at 5,503 homes as at March 31, 3.5% lower than a year ago. However, the value of the order book was 3.3% higher due to modest inflation and a change in sales mix.
(Reporting by Shashwat Awasthi and Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)