Taylor Wimpey hails 'robust' market

Housebuilder Taylor Wimpey today said housing market conditions have remained robust despite the continued drought in mortgage lending.

Housebuilder Taylor Wimpey today said housing market conditions have remained robust despite the continued drought in mortgage lending.

The group, which also trades as George Wimpey and Bryant Homes, has a current order book of 6,265 homes - up from 5,496 at the same stage last year - after an "encouraging" autumn trading period.

Cancellation rates remain at low levels and sale prices have been stable since results in August, when the group announced a return to half-year profit.

It added today: "Housing market conditions in the UK have remained robust despite the ongoing uncertainty in the wider economy.

"Although mortgage availability remains restricted, we have seen an ongoing incremental improvement since the half year results."

Wimpey has focused on driving more value from the properties it builds and said this strategy meant it was on track to deliver its target for an operating margin in the double digits in 2012.

It has also secured the purchase of 3,793 new plots on 36 new sites since the half year, while progress on planning consents have been secured for 285 homes at Keynsham, near Bath, 650 homes at Coppenhall East, near Crewe and 233 plots near Worthing.

 
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