<p>Redrow’s completions are likely to drop 15% to 20% in its 2024 financial year, the housebuilder said today (September 13), with its ceo calling for changes to stamp duty to stimulate the market.</p> <p>The company spoke to <i>Housebuilde</i>r following the release of its <a href="http://www.house-builder.co.uk/news/redrow-sales-continue-slide/">2023 financial results</a>, in which it issued guidance for 2024 of lower revenue and profit in the face of continuing tough conditions – £1.65 billion to £1.7 billion of revenue and pre-tax profit of £180 million to £200 million. </p> <p><span>This is based on a sales rate of 0.46 per outlet per week, seen during FY 2023. The expected 15%-20% legal completion drop for 2024 is against 2023’s </span><span>5,436 homes which was a 5% decrease on 2022.</span><span></span></p> <p> <span>Matthew Pratt, Redrow’s ceo, said that he supported changes to stamp duty tax to assist the challenging market, rather than a return to the successful Help to Buy scheme or a similar product. At the same time he noted that Redrow, with its focus on home movers and downsizers, had not been a large user of the equity loan initiative.</span></p><p></p> <p>He commented: “Help to Buy was of its time. Banks required large deposits [when H2B was introduced in …