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Sat June 19 2021

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Redrow benefiting from stable market

24 Apr 13 Redrow is crediting the government’s ‘Help to Buy’ equity loan scheme with having an immediate impact on visitor numbers to its housing development sites.

It said that the outlook for housebuilders was improving and Redrow expects its 2013 numbers to be up on 2012. The first 18 weeks of the year have seen a 33% rise in the value of private net reservations.

“Overall, the housing market continues to be stable,” Redrow’s board said in a trading update.

However, it remains critical of planning policy, frustrating its ambitions for growth.

“Despite the welcome improvement in the speed of obtaining planning permissions, we are still far too often experiencing frustrating delays in clearing excessive and disproportionate planning conditions.

“This unnecessary red tape remains a drag on outlet opening and a significant barrier to housing growth and delivery.  Frustratingly, the number of active outlets remains at 82, the same number as at December 2012, although we still anticipate having 90 active outlets at the end of June 2013, in line with previous guidance.”

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