Housebuilder Redrow has announced its total net private reservations achieved in the first 18 weeks are 47% ahead of the same period last year.

The company confirmed house sales in this financial year remained stable with net reservations averaging 45 homes per week.

However, Redrow believes that mortgage availability remains a problem particularly in the higher loan-to-value category.

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In a statement Redrow said: "Achieved prices are slightly ahead of our own expectations with private reservations to date averaging £149,000. This figure remains influenced by the relatively low average selling price of the remaining stock properties of In the City apartment and Debut schemes, which are steadily being sold off. We anticipate that we will start to see a trend of increasing average selling prices as we improve our product mix towards family housing."

The firm is currently selling from 74 developments and remains on track to launch a number of new outlets featuring the New Heritage Collection in the early months of 2010.

(CD/KMcA)