Building hope

Housebuilder Redrow reported record profits yesterday but urged the Government to sort out Brexit to keep the housing sector growing.

The group saw profits rise 21% to a bestever £380million in the year to June 30, with revenues up 16% to £1.92billion.

House sales rose 9% to 5,913 with an average selling price of £332,000.

Chairman Steve Morgan said it planned to build homes to meet demand but wanted more assurances from the Government on key issues. “There is no doubt that clarity over Brexit and the future of Help to Buy would improve market sentiment,” he said.

The performance came as the UK’s construction sector recorded its worst performance since May.