Vistry quits south-east England and slashes jobs after posting record £661m loss

From the Newshound archive · first published 24 September 2026 · last updated 25 September 2026.

Housebuilder Vistry has plunged to a record £661.3 million pre-tax loss in the first half of 2026, driven by a £475 million goodwill writedown and a £73 million building-safety provision linked to the Grenfell Tower tragedy. New chief executive Adam Daniels has ordered a sweeping overhaul, pulling the firm out of private home sales across the south-east entirely and shrinking its regional office network from 25 locations to just 12. Vistry's annual housebuilding target has been cut from around 16,000 homes to 12,000, with further job losses expected among its 4,150-strong workforce. The firm has already shed around 350 staff since the summer.

The record loss has deepened questions about the government's housebuilding ambitions, with Vistry previously seen as a key partner in Labour's housing plans.

Vistry has cut its full-year profit guidance to £165m from £200m, excluding a further £470m in writedowns still expected by year end.