Margins will be squeezed at Barratt Developments this year as the group scraps its interim dividend, commits to further asset writedowns and focuses on paying down debt, the housebuilder said on Thursday.

The news follows a slew of similar commitments made by rivals in recent days, with Redrow, Taylor Wimpey and Bovis Homes all warning of a fall in selling prices, drastic cuts in new home starts and renewed efforts to reduce company indebtedness.