Housebuilder benefits from high levels consumer confidence as demand for first time buyer homes increases

Improved levels for consumer confidence have helped Redrow deliver 65% of its completions for the financial year, the housebuilder said at its annual general meeting today.

Chairman Robert Jones said the company was also experience strong demand for Debut, its brand aimed at first time buyers.

He said: “We are well placed to deliver increased output for this product. In addition, two further Debut suites are expected to be launched prior to the end of December 2006."

Jones added that Redrow had submitted a planning application for 750 homes near Northampton and despite the expectation of an interest rate rise, it was confident of meeting full year expectations.