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Redrow seeks to start building homes again

After a period of significant unrest and a collapse in demand for UK homes it has been revealed that UK house builder Redrow will soon begin building again. Steve Morgan, the original owner of Redrow, who recently regained control after a boardroom coup, has revamped the company's strategy and announced a wish to take advantage of any recovery in 2010. This is by far the most positive sign we have seen for some time from a man who made his millions in the house building industry and knows the sector "inside out".

It will be interesting to see how the new strategy, which will see the company move away from apartments and concentrate upon family homes, will operate and whether it will see a steadier ship in the future. While Redrow is not the only UK house builder to have suffered a collapse in demand over the last 18 months there been significant issues regarding the "old strategy". The company is also looking to acquire land for future development although there is a clear determination that the company will not overpay for this.

Whether we see any of the other leading UK house builders follow suit in the short term remains to be seen but maybe, just maybe, we are seeing potential signs of recovery.

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