Redrow has became the latest major UK homebuilder to lay bare how the mortgage crisis is hurting trade, with the company warning sales and profits are expected to tumble this year.
The FTSE 250 firm, which mainly focuses on family homes, said the summer sales market was “challenging”. In the first 10 weeks of the new financial year it saw sales per outlet per week drop to 0.34 from 0.61 a year earlier.
