Redrow legal completions up for 14th consecutive year

Redrow has achieved legal completions in the year to the end of June of 4,284 units, up 6% on the previous year, and representing Redrow's 14th consecutive year of growth in legal completions since 1990.

In a pre-close trading update, published today (Friday) ahead of the 14 September release of full year results, the housebuilder said legal completions in 2005 should be 10% higher than 2004.

Sales reservations for the year are in line with the previous year. In the six months to the end of June, sales reservations were up 5% on the same period a year earlier.

At the end of June forward sales were up 14% year-on-year and were up 32% in value terms.

Redrow said it has just under 50% of legal completions for 2004-05 secured.

The average selling price for the year as a whole was in line with the group's expectations at approximately £154,500, up 4% on £147,900 in the previous year.