Redrow reports strong demand

HOUSEBUILDER Redrow said it made steady progress in the first 17 weeks of the year, with underlying demand expected to increase despite a tough macro picture weighing on the sector.

The group said reservations to date were one per cent ahead in the period from the end of June compared with a year ago, averaging 39 homes per week.

Steve Morgan, chairman of the UK-listed housebuilder said underlying demand for new homes remains strong and is anticipated to increase “despite the seemingly endless negative economic news”,