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TUESDAY 8TH MARCH 2005  HOMEBUILDER CAN GET BELLOW £60K PRICE BARRIER Saying it is the first company to meet the government's challenge to build new homes that sell for under £60,000, House builder Redrow has come to the aid of struggling first-time buyers with the launch of its new ‘Debut’ range of homes, with prices set to start from below £50,000. With planning permission granted unanimously for its first scheme in Rugby, Redrow is now looking forward to rolling out its innovative new product at locations across England, Scotland and Wales. Wales-based Redrow says it’s research and development team was already a long way down the road to 'Debut' when the Deputy Prime Minister, John Prescott, announced his Five Year Plan: Homes for All last month. While 'flat-pack' homes companies have caught the headlines in recent weeks Redrow says it is the first UK volume house builder to announce such comprehensive plans to tackle the first time buyer affordability issue. Paul Pedley, chief executive of Redrow plc, said: "The homes are innovative, exciting and designed to stand the test of time." "They provide a real option for first time buyers who, according to a recent Halifax report, are currently priced out of the market in 92% of UK towns." The Debut development at Willans Green, in Rugby, will have a starting price of just £49,995 for a one-bedroom home. The property range includes single storey one-bedroom homes and two-storey one and two-bedroom properties, including some with extra workspace.

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