Housebuilder Redrow cheered as prices rise

HOUSEBUILDER Redrow has reported a strong set of figures on the back of a 10% rise in the average selling price of its houses.

In the six months to the end of December revenue was up 10.3% to £257m while pre-tax profits jumped 50% to £23m.

The group, headed by Wolverhampton Wanderers chairmain Steve Morgan, sold 1,202 homes during the period, up 2.9%, at an average selling price of £224,000, up 9.8%.

Mr Morgan credited government schemes such as NewBuy, which has helped to re-introduce 95% mortga... For the full story register now for free or login below...