House Builder 'fairly optimistic' about the future

More property and economic news from Dibben and Dibben - as reported over the weekend in the UK press 1 of the UK's largest firm of house builders has resumed work on nearly all of the projects it put on hold in Wales last year at the height of the recession. House Builders Redrow has suffered heavy losses like many other of its major competitors, which has seen cuts in almost half of the workforce across the whole of the UK. At its peak, the Flintshire firm was building more than 800 homes a year, but that was cut dramatically.

The company has reported that the market changed in the spring time and that work had increased ever since. In south Wales, work has started on building between 30 and 350 homes across 10 sites, where over 400 sub-contractors are being employed. Over the next year Redrow predicts that more than 370 homes will be built from scratch or finished off at the sites it stopped work on last year.

The company said the new levels of activity showed an increased confidence in the market and greater affordability.

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