Redrow's Steve Morgan pops housebuilding hopes The whole industry damn nearly went bust a few years ago. When you look at the industry results, what you are seeing is recovery," he said. Some results look fantastic, but everything is relative, it's where you come from. Mortgage availability is a big issue, planning remains an issue. It's still like running through treacle. We are in a tough sector at a tough time. Redrow saw its average selling price climb 15pc as it switched its focus to larger homes in better locations for sales, including a push into London. Mr Morgan said that prices in the wider market have been flat for two-and-a-half years and did not expect price movement either up or down in the next couple of years. He reiterated his call for the Government-backed NewBuy mortgage scheme for new build properties, designed to boost the economy by stimulating housebuilding, to be extended to all homes. Shares in Redrow were trading up 2.2pc at 155p following the results. Mr Morgan and the two funds which make up the consortium have until September 28 to announce a firm offer for the company or walk away. Together they already own around 54pc.