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House builder Redrow Plc has reported a better than expected annual pre-tax profit, on the back of a 12% rise in its house sale prices.But the Ewloe-based firm warned the outlook for the property market was challenging. Redrow posted a pre-tax profit of £25.3m in the 12 months to the end of June, compared with £700,000 [...] Growth in the UK building sector slowed further in August while the housing sector shrank again, builders suggests.The Markit/Cips Construction PMI index – based on a monthly survey of building firms – fell to 52.6, from 53.5 in July. Levels above 50 indicate growth. It is the lowest reading since the construction sector returned to growth [...] Property sales in the UK remained at a relatively quiet level in May and lower than the same month a year ago, new figures show. The total was also 3,000 down on the [...] There has been a huge rise in the proportion of home buyers paying for their new homes in cash. This means the proportion of cash buyers has more than doubled [...] The UK building industry continued to grow in March, but raw materials price rises hit a 31 month high new research shows. Industry activity registered a level of 56.4 for March, well above the expected 54.9. A level above [...] England is facing a “growing housing crisis”, according to a report which estimates a shortfall of 750,000 homes by 2025. It found the biggest shortfall would be in London, the South East of England, the [...] Profits at Bovis Homes more than doubled last year and the firm said it had had an “encouraging” start to 2011. Bovis, which expects to open 33 sales outlets in 2011, said customer reservations had risen 11% in the first nine [...] The number of new mortgages lent to house buyers slumped by 29% in January compared to December, the Council of Mortgage Lenders (CML) said. The CML said the fall was larger than expected at the time of year and due to an “unusual [...] New research has found that 23% of people who planned to buy a property in the coming year will be first time buyers.Generally, it is thought that double this proportion of first time buyers is a sign of a healthy housing market. Figures show a downward trend in first time buyer numbers throughout 2010. There was a [...] Housebuilder Bellway saw a jump in sales in January, and forecast continued recovery as long as there were no shocks to the UK economy. Bellway said that the average price of its homes rose 8% to £168,000 The firm, which has shifted away from building flats to two-storey houses, said it had managed to push [...] Registered Office in England, 24 Charlton Drive, GL53 8ES, UK- 3506015 • Data Protection Registration Number- PZ5407728
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