Redrow expects pre-tax profits for the year to be above analyst's expectations. The company said that orders for private housing stood at £870m, up around 10.5% on last year . The British housing market was expected to be affected by the EU referendum vote, with Deutsche Bank forecasting that a decline in property prices would eliminate all profits for Brexit housebuilders. But despite the UK vote, Redrow reported that housing sites were still busy and that a chronic housing shortage left market fundamentals unchanged. This week the firm said the average selling price of private homes was up more than 50% at £ 0.7537 pounds .
Redrow expects pre-tax profits for the year to be above analyst's expectations. The company said that orders for private housing stood at £870m, up more than 50% on last year. The British housing market was expected to be affected by the EU referendum vote, with Deutsche Bank forecasting that a decline in property prices would eliminate all profits for UK housebuilders. But despite the Brexit vote, Redrow reported that housing sites were still busy and that a chronic housing shortage left market fundamentals unchanged. This week the firm said the average selling price of private homes was up around 10.5% at £328,500.