Housebuilder banks on strong Spring market as it plans to launch 10% more developments in first six months of year.
Redrow has announced it is to launch a “significant” amount of new developments in the first six months of 2005. The housebuilder said that it wanted to capitalise on the Spring market to ensure a sound platform for the rest of the year. It anticipates that the number of outlets will be 10% up on the same period in 2004.
The housebuilder said that housing activity had fallen in 2004 and as a result it had focused on maximising selling price in 2004 rather than increasing sales. In a trading statement it said forward sales had increased by 6% to 2,072 units and average selling price by 15% to £175,000 for the six months ended 31 December 2004.
Redrow said that the quality and number of potential land opportunities had increased amid a return to more normal market where house price growth was more sustainable.
The housebuilder said that it was well positioned to take advantage of the market conditions in 2005, and cited the introduction of a new housing range, a cost-effective quality land bank, and the use of modern methods of construction as grounds for optimism.