Housebuilders report steady trading

City A.M. Reporter
Housebuilders Taylor Wimpey, Redrow and Bovis Homes this morning said trading remained steady, despite challenging market conditions in the UK.

Taylor Wimpey said sales in the second half of this year were similar to the same period in 2011. The housebuilder added that it welcomed the government’s NewBuy scheme, and that it had generated “strong interest” among customers.

Redrow also hailed the new Government schemes.

“Without a doubt industry numbers would be considerably lower without this intervention,” Redrow said in an interim management statement today.

Meanwhile Bovis Homes said it remained on track to deliver “a strong increase in revenue in 2012” and expects its operating margin for this year to be around 13 per cent, up from 10 per cent last year.

It said the average sales price since the beginning of the year for projects expected to complete in 2012 had risen to £190,000, up from just over £180,000 a year ago.