Redrow sees “strong trading”

Nov. 6, 2020
<p>Redrow has seen “strong trading” since the start of its financial year with reservation values and homes turnover up on the equivalent period last year.</p> <p><span>During the 18 weeks to October 30 2020, the housebuilder said its homes turnover climbed 48% against last year to £657 million. The value of its net private reservations rose 5% to £630 million, with demand in the regions “particularly strong”, increasing the reservation value by 17%.</span></p><p></p> <p><span>The private revenue per outlet per week on a like-for-like basis was £302,000 against £262,000 last year. During the period, Redrow’s average selling price of private reservations rose 2% to £396,000.</span></p><p></p> <p><span>The housebuilder said its robust performance had not reduced its total forward order book, which remained “close to record levels” at £1.5 billion, 10% up year-on-year.</span></p><p></p> <p><span>It is also “making good progress” on scaling back its London operations, having exited three of the six sites it is no longer developing in the capital.</span></p><p></p> <p><span>But the business pointed to ongoing planning delays. These were affecting the rate at which outlets could become available “during a period when closures have come forward due to the strong sales rate”.</span></p><p></p> <p><span>Its sales offices will remain open during the latest lockdown, apart …

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