Reporting on progress, chairman Steve Morgan said: 鈥淚 am pleased to say that the encouraging sales trend I reported in the September Prelims has continued.聽 Currently, net private reservations are 6% ahead at 1,660 and the sales rate for the 19 weeks to 4 November 2016 is 0.71 per outlet per week, up 4% on last year.聽 Demand remains strong across the majority of our sites with buyers continuing to make purchase decisions well ahead of build programmes.聽 Our private order book is currently 拢941m, a 29% increase on this time last year.聽
鈥淭he average selling price of private reservations for the financial year to date is 拢355,000 (2016: 拢334,000) including the sale of the last of the high value apartments in Central London.聽 Excluding these apartments, the average selling price was still up at 拢341,000.聽
鈥淥ur balance sheet remains strong.聽 Net debt is currently 拢92m and is expected to be at similar levels at the end of December 2016.
鈥淲ith this robust sales performance and strong balance sheet, I remain confident this will be another year of significant progress for Redrow.鈥�
Got a story? Email news@theconstructionindex.co.uk
