UK house sales outlook for 2023 remains ‘uncertain’, says Barratt

Housebuilder reports modest uplift' in reservations of new homes in January but remains cautious

Britain's largest housebuilder, Barratt Developments, has reported grounds for optimism in the UK housing market after an increase in sales in January - but it said the trading outlook for 2023 remains uncertain".

Barratt reported a modest uplift" in reservations of new homes during the first month of the year, as a result of the return of more competitive mortgage rates for house buyers, combined with expectations that energy costs will come down and interest rates will not rise as high as previously predicted.