Housebuilder Redrow says it’s looking forward to working
with government to consider the future of the help-to-buy subsidy scheme beyond
2021. You bet it is. Since former chancellor George Osborne in 2013 committed
to helping homebuyers purchase new properties with a deposit of only 5%, Redrow
has reported record profits every year. The latest annual numbers – and a share
price that has improved threefold since 2013 – shows how wonderful life has
become for big housebuilders. Operating margins are running at 19% and return on
capital employed has hit 26%. About 40% of its private sales are to help-to-buy
purchases, which is typical for the sector. Read more on the Guardian website.
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