Redrow has said the ongoing housing boom will mean operating margins and completions will both be up this year when it releases its final results in September.

In a trading update this morning, the housebuilder said operating margins for the year to 27 June would be above 15.5% – markedly up from the 11.1% last year when the covid-19 pandemic hit the firm’s numbers – with turnover up to around £1.94bn from £1.34bn.