Housebuilder says reservations, sales rate and selling price all up ahead of its annual general meeting

Redrow chairman Steve Morgan has hailed improved sales performance at the housebuilder in the five months since its year-end in June.

At the firm’s annual general meeting today, Morgan will say: “Currently, net private reservations are 28% ahead at 1,560 and the sales rate for the 19 weeks to 6 November 2015 is 0.68 per outlet per week, up 5% on last year.

“The Average Selling Price of private reservations for the financial year to date is £334,000, an 18% increase mainly driven by better quality outlets coming on stream to replace lower priced sites.

“With this strong sales performance, I am confident this will be another year of significant progress for Redrow.”