Redrow will concentrate on building three- and four bedroom family homes in future as the house building market shifts to lower density housing, according to David Arnold, group finance director.

Founder Steve Morgan, who was appointed chairman in March in a boardroom coup after building up his personal shareholding in the company, was currently touring the group’s sites and would announce a strategic review in due course, Mr Arnold said.

'We’ll be focusing on traditional family housing, reducing apartments and replacing them with two-storey houses,' he said.

Planning policies and high land prices at the peak of the housing boom left many house builders with a glut of two-bedroom, city centre flats that have been hard to sell as prices have fallen.

Financial Times