Trading Statement

Barratt Developments PLC
19 January 2005



Under embargo 7am                                                19 January 2005

                            BARRATT DEVELOPMENTS PLC

                                  TRADING UPDATE

Barratt Developments PLC, Britain's largest housebuilder, is today providing the
following Trading Update for the six months to 31st December 2004, ahead of its
Interim Results, which will be announced on 23rd March 2005.

We expect to confirm another successful period for the Group with further growth
in completions, margins and pre-tax profit. It is particularly pleasing to
report that the Group is also in a very strong financial position and finished
the half year with net cash of circa. £150m.

We exercised caution in the land market throughout 2004 and tightened our
acquisition criteria again, in December 2004. Nevertheless, we maintained a high
quality land bank which now stands at circa. 59,000 plots (2003: 56,345 plots),
including 8,000 plots (2003: 9,700 plots) agreed subject to contract. This
equates to 4 years supply.

UK completions increased to 6,866 homes, up 2%, at an average selling price of
around £165,000, an increase of approximately 2%. Over 80% of the homes built
were on brownfield land, once again demonstrating our position as Britain's
leading urban regenerator. Private completions were 8% lower at 5,610 homes, at
an increased selling price of circa. £179,000, up 6%. However, social housing
completions more than doubled to 1,256 homes, at an average selling price of
£105,800, up 18%. For the full year, we expect social housing completions to
increase by approximately 50% over last year's level. We remain well positioned
to continue our steady increase in sales outlets and, subject to planning
approvals, we expect these to increase to circa. 455 by summer 2005.

Forward sales at 31 December 2004 increased to circa. £800m (2003: £757m), a new
record which, together with legal completions to date, secures approximately 80%
of our full year objective.

After very high house price rises in recent years, the market continues its
adjustment to more modest price increases and a normal level of activity. This
adjustment was overdue but welcome since it will provide a more stable and
sustainable market for the future. We anticipated, and prepared for, these more
competitive conditions. This, combined with our marketing skills, should enable
us to continue to deliver good results. The fundamentals of the housing market
remain sound with historically low interest rates, good employment levels and
restricted supply due to planning delays. Furthermore, stable prices, or modest
price rises in the year ahead should increase buyer confidence, improve
affordability and gradually release any pent-up demand. This will benefit
housebuyers and housebuilders alike.

Our core strengths of wide geographic spread, affordable product range and urban
regeneration skills have together produced another record half year - for the
13th consecutive year. Despite continuing delays within the planning system, we
have all planning permissions in place to achieve our requirement for this year
and over 80% of our requirement for 2005/2006. We are in good shape as we enter
the next six months with strong finances, a high quality land bank and record
forward sales.

Enquiries:-

Barratt Developments PLC                            Weber Shandwick Square Mile
David Pretty, Chief Executive/                                   Terry Garrett/
Colin Dearlove, Finance Director                                    Chris Lynch
Tel: [phone]                                           Tel: [phone]




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