Trading Statement

Redrow PLC
06 January 2005


6 January 2005

REDROW plc - TRADING UPDATE

Redrow plc is issuing the following pre-close trading update ahead of the
publication on Tuesday 8 March 2005 of its interim results for the six months
ended 31 December 2004.

At the Annual General Meeting in November we highlighted that, as a result of
having positioned the Group with a record forward sales position at the start of
the financial year, Redrow's focus had been upon maximising selling prices and
hence protecting margins, rather than chasing volume during this period of
adjustment between the strong markets of recent years and a return to more
normal levels of activity.  This resulted in Redrow delivering 2,111 legal
completions (H1 2003/04: 1,996) in the six months ended 31 December 2004, an
increase of 6% on the corresponding period last year, with an average selling
price of approximately £175,000 (H1 2003/04: £152,700).  This average selling
price is marginally higher than the currently estimated average selling price of
£172,500 for the full financial year due to both geographic and product mix
differences between the first and second halves.

Sales reservations have been maintained broadly in line with the level indicated
at the time of the preliminary results.  Forward sales as at 31 December 2004
total 1,948 units (31 Dec 2003: 2,072 units) and of these over 85% are exchanged
contracts, representing a strong foundation as the Group enters the New Year.

Macroeconomic factors remain supportive of the housing market though consumer
confidence is a key component to market activity.  The Spring sales market will,
as usual, be an important factor in establishing a sound platform for the
following financial year.  To capitalise on this market and as a result of
Redrow's continuing focus on land, the Group will be launching a significant
number of new developments in the New Year with the number of outlets in the six
months ended 30 June 2005 anticipated to be at least 10% higher than during the
same period last year.

Both the land market and build costs appear to be adjusting to expectations of a
more normal housing market.  The quality and number of potential land
opportunities has increased and Redrow remains cautiously active in the market
to support the delivery of long term sustainable value for our shareholders.

Over the last two years, Redrow has been positioned for more normal market
conditions.  The introduction of the new housing range combined with our
enhanced customer service initiative, a cost effective quality land bank, a
recognition of the importance of modern methods of construction and a focused
management team means that Redrow remains well placed to capitalise on the
market conditions of 2005, and the Board reaffirms its previously stated
dividend policy.



Enquiries:
Paul Pedley, Chief Executive                          Redrow plc
David Arnold, Group Finance Director                  0207 839 6072 (6 January)
                                                      01244 520044 (thereafter)

Patrick Handley/Nina Coad                             Brunswick Public Relations
                                                      0207 404 5959


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