Redrow encouraged by sales activity
Redrow says it has been encouraged by sales activity since the beginning of 2010, with sales rates per outlet comfortably ahead of a year earlier.
Weekly visitor levels and cancellation rates have remained “reasonably consistent” and house prices have been stable.
The housebuilder expect to legally complete in excess of 2,500 homes for the full year, and the average selling price of its private homes has increased year-on-year, due to a change in mix.
In February, Redrow launched The New Heritage Collection of family homes and customer response has so far been “extremely positive”.
The group’s chairman, Steve Morgan, has been calling on planning authorities to actively encourage the building of traditional family homes, rather than residences that are “more at home in Stalingrad”, and the collection is now in place in 13 show areas around the country.
Since the beginning of 2010, the developer has secured or agreed terms on around 2,500 plots on 18 new sites, the majority of which have been identified with The New Heritage Collection in mind.
Looking ahead, Redrow expects the market to remain challenging this year, “given the uncertainties surrounding the election, the economic environment and continued restrictions on mortgage availability”.