Redrow unveils £55,000 house

04-Apr-2005

Housebuilder Redrow has revealed its new offering for first time buyers - its most affordable house yet.

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Redrow's new Debut home range is specifically targeted at aspiring homeowners and will cost less than £55,000.

The move represents part of a plan to bring down the cost of purchasing a new home for first time buyers, in a climate of increasing costs.

Redrow has already secured planning permission to build 100 of the one-bedroom and two-bedroom houses on a site near Rugby, and the group's breakthrough could result in an explosion in new affordable housing being created for first time buyers and key workers.

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The government last week announced its intentions to boost the number of first time buyers in the market by a million over the next five years, and Redrow now looks set to be at the forefront of those developments in the private sector with its new range of affordable housing.

At just under £55,000, the homes are Redrow's response to the challenge laid down by Deputy Prime Minister John Prescott last year, who called on developers to create affordable housing which would cost under £60,000 and could be used to help first time buyers and key workers get a foothold on the property ladder.

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