Redrow shifts its housebuilding focus away from London

Developer warns pandemic will hit profits as it gears up for working-from-home market

The housebuilder Redrow is scaling back building in London in favour of suburban areas around the country as the pandemic prompts buyers to look for more space and the ability to work from home.

Redrow said on Tuesday it would focus on “higher-returning regional businesses”, including 1930s-style suburban developments, as it warned that profits for 2020 will fall substantially compared with 2019.

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from Property | The Guardian https://ift.tt/38cay7Q
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