One of the UK’s largest housebuilders, Redrow, is trialling more offsite manufacturing techniques with the integration of modular garages
Redrow revealed it is now testing the use of modular garages at two of its regional divisions, in the hopes of slashing costs.
The housebuilder is also installing service pods to homes at its Paddock Wood development at West Drayton near Heathrow Airport.
Despite the current economic uncertainty, Redrow announced a record year to June, saying that innovations were not only decreasing the reliance on site-based skilled workers but it was also allowing for clearer cost certainty.
During the year Redrow said build costs increased by around 4% with spikes in some material costs being offset by easing labour cost pressures.
Pre-tax profit soared 21% over the year to £380m.
Group turnover jumped by 16% to £1.92bn as completions increased by 9% to 5,913 homes and average selling price rose 7% to £332,300.
To underpin future growth Redrow has launched a new division in Thames Valley and reorganised its Greater London operations into East and West divisions to focus on growth in the capital.
Chairman Steve Morgan said: “Despite the uncertainty surrounding Brexit, demand for new homes continues to be robust, and overall house price inflation has moderated to a sustainable 2%.
“We entered the current year with a strong order book of £1.14bn, an increase of £110m over the previous year.
“Mortgage availability is excellent, and with low-interest rates by historic levels, the mortgage market remains very competitive.”
He added that Help to Buy continued to support home buyers with 1,794 of Redrow’s private reservations secured through the Government-supported scheme.