UPDATE 1-Redrow private reservations for 1st 18 weeks up 47 pct

* Says fiscal year-to-date home sales stable * Private reservations to date average 149,000 stg

* Says well placed to pursue opportunities in land market (Adds details)

Nov 4 (Reuters) - British house builder Redrow Plc (RDW.L: Quote, Profile, Research) said on Wednesday home sales in the financial year to date were stable with total net private reservations for the first 18 weeks up 47 percent over the same period last year. The company said net private reservations averaged 45 homes per week, including the normally seasonally weaker months of July and August. Redrow, which achieved prices slightly ahead of its own expectations with private reservations to date averaging 149,000 pounds ($244,700), said it expected average selling prices to improve as it starts to focus on family housing.

The company said it was well placed to pursue opportunities in the land market, which it expects to gradually return to more normal levels of activity over the next 12 to 18 months.

"The underlying housing market remains influenced by the availability of mortgage finance and consumer confidence generally, but we enter 2010 well placed to meet the challenges and opportunities ahead," the company said in a statement.

Redrow shares closed at 139.4 pence on Tuesday on the London Stock Exchange. ($1=.6088 Pound) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Vinu Pilakkott)