Housebuilder Redrow has said it has received more than 2000 enquiries about its £55,000 house since claiming in March it could undercut the ODPM’s target of building a home for £60,000.
The company, based in Flintshire, said that a poll on its website found that 90% of first-time buyers did not want to pay more than £100,000 for a home. It plans to build 24 of the £55,000 homes at this site in Rugby, Warwickshire, with a further 10 schemes by the end of the year across the rest of the UK.
The ODPM formally launched the £60,000 house competition at the Urban Summit in Manchester in February. The intention is to divorce the cost of building the house from the price of the land and the surrounding infrastructure.