The UK’s largest housebuilder Barratt has said it is on course to meet reduced volume expectations for the year after sales rates recovered in recent weeks from the mini-budget turmoil to as high as 0.71 homes per site per week.

However, the £5.3bn-turnover firm said in a trading update its sales rates were still down 30% in the second half of its financial year on 2022, and its pace of construction had dropped significantly to adjust to lower demand.

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