Tag: Redrow

Redrow reports half-year profit

Redrow reports half-year profit

Housebuilder Redrow, which is the fifth largest housebuilder in the UK by volume, has today reported a profit for the six-month period to 31 December. The company said net income for the period was £3.5 million against a loss of £6.3 million a year earlier. Meanwhile, the company based in St. David’s Park, Wales, said […]

February 17, 2011 More
CML calls on FSA to re-think new mortgage guidelines

CML calls on FSA to re-think new mortgage guidelines

A “mortgage famine” could be on the way, according to lenders and housebuilders, that’s if new proposals to prevent reckless borrowing are implemented. The Financial Services Authority (FSA) has outlined plans to encourage responsible lending, which could mean even more buyers are locked out of the market. The FSA has already proposed affordability tests for […]

November 5, 2010 More
Redrow chairman campaigns for first-time buyers

Redrow chairman campaigns for first-time buyers

Redrow chairman, Steve Morgan, is calling attention to the plight of first-time buyers, pointing out that they are forced into saving upwards of 20% of the value of their first homes, compared with an historic first-time buyer deposit of around 6%. With demands for large deposits remaining “the major constraint” to the full recovery of […]

September 10, 2010 More
Redrow encouraged by sales activity

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 […]

April 27, 2010 More
New family homes gain rarity value

New family homes gain rarity value

Smartnewhomes.com is warning of a shortage of family accommodation across the UK property market and initiating a campaign to bring back the family home. The property portal blames the recession for a continuing decline in new family homes, claiming that last month only 476 such properties were marketed by developers, down from 595 in February […]

April 6, 2010 More
Redrow turns its back on “Stalingrad” homes

Redrow turns its back on “Stalingrad” homes

House builder, Redrow, has launched a new range of homes inspired by the Arts and Crafts movement of the early 1900s, which focused on simplicity and good, functional design. The group’s chairman, Steve Morgan, is also calling on planning authorities to actively encourage the building of traditional family homes, rather than residences that are “more […]

February 15, 2010 More
Redrow refocuses as sales plummet 43%

Redrow refocuses as sales plummet 43%

Housebuilder Redrow has reported a 54% drop in sales income over the year to the end of June. The developer sold 2,113 homes, down 43% on last year’s total, with the average selling price falling 12% to £137,400. The group says it has refocused on a new strategy under chairman, Steve Morgan, who rejoined the […]

September 11, 2009 More
Barratt and Redrow upbeat on all but mortgage finance

Barratt and Redrow upbeat on all but mortgage finance

Two of the UK’s best known house builders have reported signs of improvement in the property market. Barratt Developments experienced an 11.9% rise in visitor numbers during the six months to the end of June (compared to the previous six months) and private sales reservations rose an encouraging 18.6%, on a weekly basis. Meanwhile, Redrow […]

July 10, 2009 More
Redrow’s house sales fall 49%

Redrow’s house sales fall 49%

Housebuilder, Redrow, reported a 58% fall in revenues in the second half of 2008 leaving the company facing a pre-tax loss of £46.2 million, compared with a profit of £35.8 million in the same period of 2007. Falling sales and lower selling prices were to blame; during the second half of last year, the company […]

February 24, 2009 More
House sales plummet 50% at Redrow

House sales plummet 50% at Redrow

Redrow is the latest UK housebuilder to report a sharp fall in sales during the second half of 2008. The group sold 853 homes in the six months to the end of December, compared with 1,657 during the same period of 2007. The average price of a Redrow property fell to £140,000 declining from £162,700 […]

January 15, 2009 More
Bovis and Redrow epitomise housebuilders’ woes

Bovis and Redrow epitomise housebuilders’ woes

Housebuilder, Bovis, has announced that it expects to complete 1,800 homes during 2008, compared with 2,930 last year. The group’s stock of unsold homes stands at over 900, despite price reductions and an incentive scheme aimed at attracting buyers. The slowdown in the private housing market is forcing the builder to focus more on the […]

November 7, 2008 More
Housebuilders’ woes increase as sales plummet

Housebuilders’ woes increase as sales plummet

Yesterday’s announcement that housebuilder Persimmon has cut around 2,000 jobs since the start of the year has been followed by further gloomy news from Bovis Homes and Redrow, which are also reducing staff numbers. The firms expect to cut 400 and 550 jobs respectively, blaming the losses on the credit crisis and high mortgage costs. […]

July 9, 2008 More