<p><span>Redrow has seen “encouragingly resilient” trading since the start of its new financial year, it said today (November 6), but with ongoing challenges arising from continuing uncertainty.</span></p> <p><span>During the 18 weeks to November 1, the value of the housebuilder’s net private reservations – excluding a £119.5 million private rented sector sale at Colindale Gardens - was 2% up on the equivalent period last year at £598 million. </span></p> <p><span>Its sales rate per outlet per week (without the PRS sale) was 0.67 against last year’s 0.64. Redrow’s average selling price of private reservations increased marginally, from £388,000 the previous year to £389,000.</span></p> <p><span>John Tutte, Redrow’s executive chairman, said the housebuilder’s outlet growth continued to be impacted by planning delays and the company’s cautious approach to land acquisitions, triggered by “this unceasing period of economic and political uncertainty”. </span></p> <p><span>The business remains set to operate from an average of 131 outlets this financial year, despite numbers being slightly down so far - 128 against last year’s 129.</span></p> <p><span>And revenue, profit and cash generation would be “considerably more weighted than usual” to the second half of the year, Redrow added, thanks to subdued outlet growth and the timing of block completions in London.</span></p> …