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A “challenging year” for housebuilders sees revenue and profits fall for Barratt developments, in its latest financial results.

Barratt home completions are down for the year ended 30 June 2024 with 14,004 compared with the previous year.

Under the agreement terms, BDW Trading, Barratt Developments’ principal operating subsidiary, acquires half the land at Durieshill in exchange for funding the site’s infrastructure development over the next five years.

It had to make provisions for £179 million to counter the cost of remediation works on legacy properties.

Barratt were selected by TTL Properties Ltd (TTLP) as joint venture partners for site by Bollo Lane in Acton.

If Vistry is able to deliver the predicted units in FY2024, it would dethrone Barratt Developments as the UK’s largest housebuilder.

Statom Group has begun the next phase of work on Oval Village to transform former gasworks for Berkeley Group.

Monthly construction output is estimated to have grown in volume by 1.9 per cent in May, latest ONS data shows.

Robertson appointed Irene Wilson and Colin Mitchell as chief financial officer and group finance director, respectively.

Peter Gore steps into the leadership role having worked as group operations director at the developer since 2021.