Redrow expects 2022 results “approaching” 2019 levels

Nov. 12, 2021
<p><span>Redrow is the latest housebuilder to report the continuation of strong trading since the summer, with the business anticipating results in 2022 to be “approaching” those of 2019.</span></p><p></p> <p><span>Redrow said that against the backdrop of a “robust” housing market, during the 19 weeks to November 5 the value of its net private reservations was 2% ahead of the same period the previous year at £672 million.</span></p><p></p> <p><span>It noted that reservations per outlet per week were at a more “normal” level during the reported period – 0.68 compared to the “unusually high” 0.75 of last year. Help to Buy only represented 9% of its private sales.</span></p><p></p> <p><span>This impacted homes turnover during the first 19 weeks of the financial year – at </span><span>£666 million this was 4% lower than the “exceptional” levels of last year.</span></p><p></p> <p><span>But Redrow’s private average selling price (ASP) climbed 14% against last year to £453,000. Redrow said this was a result of customer desire to personalise homes, alongside geographic and product mix and price inflation.</span></p><p></p> <p><span>It added that due to the “ongoing strength” of the market, it expected to be operating from an average of 112 outlets for the full financial year. In its financial year to date, …

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