Founder and chairman will report a slight slowdown at firm鈥檚 AGM
Fears around Brexit and the future of the economy have hit Redrow鈥檚 house sales, according to company founder and chairman Steve Morgan.
Compared with what he described as a 鈥渧ery strong sales market鈥� 12 months ago, he will tell the firm鈥檚 AGM later today that while sales market had been buoyant in the first quarter, 鈥渙ngoing political and economic uncertainty has resulted in a slight slowdown in sales鈥�.
However Morgan will also say that despite slower market conditions, net private reservations in the 18 weeks to 3 November were 2% above last year at 1,548.
The average selling price of private reservations for the group鈥檚 financial year to date is 拢371,000, up 5%.
Morgan said Redrow鈥檚 order book stood at a record 拢1.2bn, up 3% on the same period last year, and recently legally completed the first 20 apartments at its 3,000-home Colindale Gardens development in London.
The housebuilder will announce its first half results on 7 February 2018.
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