Barratt Developments PLC

BDEV: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 695.00	Zpptf	Bxljvgx

Bleak Outlook for House Prices To Challenge Barratt in Late Fiscal 2023, but Shares Still Attractive

Grant Slade

Feb 8, 2023

The soured near-term outlook for U.K. house prices remains a distinct challenge to profit margins in fiscal 2023 for no-moat Barratt Developments. Barratt’s first-half fiscal 2023 result provided little surprise, with key details of its first-half performance having been previously provided to the market at its mid-January trading update. Still, Barratt weighed in on the outlook for the remainder of fiscal 2023, confirming our expectations for challenging trading conditions in the second half of fiscal 2023 as the U.K. housing market adjusts to the recent surge in mortgage interest rates.

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