LONDON (Reuters) - British housebuilder Redrow (L:RDW) said on Wednesday that sales continued to increase after Britons voted to leave the European Union and there were signs that the strongest growth was in areas which voted for Brexit.
The firm, which posted a 4 percent rise in sales during the 19 weeks to Nov. 4, said demand has remained strong across the country, the latest housebuilder to suggest the housing market has not faced an immediate hit from the June 23 referendum.
But Chief Executive John Tutte told Reuters that some of the strongest increases were being seen in parts of England which backed leaving the European Union.
"Parts of the North have been stronger than perhaps you would have expected. It's a bit anecdotal but if you look at the strength of the Brexit vote, it's proportional to the strength of the housing market."
"Some of those places in our businesses in Lancashire, parts of the north West have been very strong actually and of course they were big Brexiteers," he said.
London and many areas in southern England backed remaining part of the European Union while much of northern England supported leaving the bloc.
Tutte said he also expected overall demand to remain strong into the start of 2017.
"I would expect in the first four months of the year, it will be relatively strong," he said.