Housebuilder's AGM statement says that house buyers are taking longer to buy properties.

Redrow became the latest housebuilder to warn about a slowdown in the housing market at its annual general meeting today.

The firm pointed to house buyers taking longer to buy properties in an AGM statement, which has led it to experience a reduction in reservation levels and the sales rate per development since the summer.

The firm said: "While visitor levels remain healthy, customers are taking longer before committing to purchase and lower levels of activity in the market as a whole lengtheing sales chains."

Despite this warning the firm said its strong landbank would ensure its financial perfromance would remain strong. The statement added: "One of the group's core strengths is its land banks and we intend to protect the profitability within our land holdings through the maximisation of sale value, thereby protecting operating margins through the period of adjustment rather than chasing volume."