Redrow returns to traditional housing

July 9, 2009
<p>Redrow has begun a complete product and land review to return the business to traditional family housing, a sector it describes as its "historic strength".</p> <br><p>The new range is designed to return the firm to its "former premium branding position" and strengthen average selling prices.</p> <br><p>The new housing range will have an "attractive external design, enhanced specification and internal lay outs to suit modern day living."</p> <br><p>Redrow says sales over the past six months have proven to be relatively stable and that the firm legally completed 2,113 homes in the year to June 30, compared to 3,925 in 2008. Debt has been reduced to about £215 million from £269.1 million.</p> <br><p>Forwards sales at June 30 fell slightly to 1,147 homes (June 08 1,189) however of these the number of private sales increased by 22% to 600 (492 in 2008).</p>

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