The buyback has come about, in part, amid pressure from activist investor demands, as Barratt Redrow looks to tackle a widening gap between its share price and net asset value.

Barratt Redrow has called on Prime Minister-to-be Andy Burnham to cut taxes to boost affordable housebuilding.

The buyback has come about, in part, amid pressure from activist investor demands, as Barratt Redrow looks to tackle a widening gap between its share price and net asset value.