Redrow sells more homes

Published:  26 April, 2010

WAKEFIELD: Housebuilder Redrow expects to return to profit in the second half as it sells more homes despite challenging market conditions.

"We expect to legally complete in excess of 2500 homes for the full year, which will result in a return to profitability for the second half period," Redrow said in an interim management statement today.

House prices had been stable since the start of 2010, the company said, adding the average selling price of its homes was up from the same period in 2009 and the first half due to a planned change in product mix.

"We have been encouraged by sales activity since the start of the calendar year with sales rates per outlet comfortably ahead of the same period last year," it said.

However, Redrow still expects the market to remain challenging this year, "given the uncertainties surrounding the election, the economic environment and continued restrictions on mortgage availability".

Sign Up

For the Builders' Merchants News enewsletter.

In the spotlight

Recruitment

Builders Merchants Vacancies – UK Wide

We have vacancies all over the UK for those who work within the Building Supplies sector.

Guest Blog by Michael Barnett
A Bright future predicted for housing construction

One of the major talking points in the wake of the Brexit decision has been around the country’s current housing shortage with a YouGov poll from this year revealing that first time house buyers are now 38-years-old, on average.

Events Diary