HOUSEBUILDER Redrow today announced it was axing 350 jobs and shutting down two locations, including their Sourthen office in Basingstoke.

The developer also reported that they are closing their Warrington office as they reported a 19% drop in sales compared with last year, and a 45% fall in upcoming deals.

Today’s trading update to the city said: “The UK housing market continues to be severely affected by the credit squeeze. Homebuyer confidence is now also being influenced by concerns about the future for house prices and interest rates. As a result the market for both new and second hand homes has declined rapidly to transaction levels not experienced for very many years with the price of homes now declining.”

Src. Wales Online