Barratt Redrow has reduced its target for the number of homes it aims to complete over the next year, citing ongoing planning delays.

However, the number of new homes completed over the year to the end of June rose by 5% to 17,667 compared to the previous year.

For the year ahead it has lowered its target from 17,700-18,200 to 17,500-17,900, as a result of planning delays and also fewer sales outlets being opened.

Pre-tax profits for the year just ended were up by around a third to £363.5m.

Chair Caroline Silver has renewed the company’s calls for the government to do more to help the housing market.

She says: “Whilst recent planning reforms should, in time, boost housing delivery, alone they will not be enough.

“The government must also take action to support demand, particularly for first-time buyers.

“It is only by reducing barriers to home ownership and addressing the increasing regulatory and tax burdens that are constraining housebuilding viability across many parts of the country that the government will be able to unlock increased levels of housing delivery, including affordable housing, to start to tackle the housing crisis, create jobs and drive economic growth across the country.

“Performance in the year ahead will continue to be influenced by the broader macro-economic environment.

“Higher mortgage rates and affordability pressures will continue to impact customer confidence, but mortgage availability remains competitive and our experience on the ground is that demand from committed home buyers remains resilient.”