Place RESI 2015: Matthew Pratt, Redrow Homes

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Place RESI 2015Place Nor th WestMatthew Pratt Regional Chief ExecutiveRedrow Homes

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Overview

• Redrow• Current Trading• The North West• Looking forward

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Redrow - Beginnings

• Redrow formed 1974 By Steve Morgan• FTSE 250 Company MK cap £1.26b• Average Sel l ing Price £300K• Customer led kerb appeal

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Site Locations

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Woodford

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Saighton Camp

• Crown Park, based on the edge of Chester for 300 units which had outline planning permission

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Liverpool Partnership

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The Current Market

• Repaired balance sheets• Low end sales price rises• Stable market maintains long term future• House price inflation reviewed by Bank of England

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House building - Economy

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House Building and the Government

• Housebuilding used to stimulate the economy

• Housebuilding labour intensive• Supply chain uses UK based

manufacturing• Tax; Council, Corporation,

income, Stamp duty, CIL, section 106 planning Gain and NI

• Support; NPPF, Help to buy, Stamp Duty, Interest rates, HtoB ISA

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Land

• 2014 Stats - England• 253,000 homes granted

planning permission• 137,010 homes construction

started.• 118,760 homes completed• Infrastructure intensive sites• Reserved matters application

delays

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Looking to the Future - Labour

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Looking to the future – Help to Buy

• 5% customer deposit required.

• Scheme in place until 2020 England

• Wales confirm extension beyond 2016

• Help to buy ISA now available.

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Summary

• Housing up the political Agenda• Help to buy expires in 2020• House Price inflation in focus• Skills Shortage• Great future