Leaseholder victory: Countryside to remove ground rent doubling terms after CMA action September 15, 2021 Developer Countryside Properties has struck out terms meaning ground rents double every 10 to 15 years, after a watchdog’s instruction Leaseholders’ ground rents will stay at the amount charged when they first bought their home, following action by the Competition and Markets Authority (CMA). The Big Four developer has voluntarily given formal commitment to removing [...]
Taylor Wimpey revenue jumps 190 per cent after building record number of homes August 4, 2021 Housebuilding group Taylor Wimpey has built a record number of homes in the past six months, which has given its revenue a well-needed uplift. The housebuilder completed some 7,303 homes in the six months to 4 July, up from 2,771 in the same period last year. Shares were up three per cent in its afternoon [...]
Taylor Wimpey sees strong housing demand as market continues recovery April 22, 2021 Housebuilder Taylor Wimpey today said that the housing market has remained healthy in 2021 after a surge in customer demand. Speaking in a trading update, Taylor Wimpey reported a net private sales rate for the year to 18 April of 1.00, compared to 0.90 in 2020. Its total order book value stood at around £2.81bn, [...]
CMA orders Taylor Wimpey and Countryside to remove ground rents in rental contracts March 19, 2021 The Competition and Markets Authority said this morning it has instructed homebuilders Taylor Wimpey and Countryside Properties to remove certain contract terms that require leaseholders to pay ground rents which double every decade. The CMA said these terms could affect the property rights of the firms’ customers. Moreover, “as this increase is built into contracts, it means [...]
Taylor Wimpey reinstates dividend as profit falls two-thirds March 2, 2021 Housebuilder Taylor Wimpey today said that it would reinstate its dividend after a year in which profit before tax at the firm fell 68 per cent. Having cut its dividend when the coronavirus forced it into site closures in the second quarter, the FTSE 100 company said it would pay out a final dividend of [...]
Taylor Wimpey orders increase by £500m despite 2020 pandemic hit January 14, 2021 Taylor Wimpey saw orders increase by £500m despite the housing market shut down, its annual performance review revealed this morning. Despite the house builder suffering during 2020, with housing completions falling nearly 40 per cent, the company started 2021 with an order book valued at £2.7bn, as opposed to their £2.2bn orders for 2019/20. “Looking [...]
Taylor Wimpey swings to a loss in first half July 29, 2020 Housebuilder Taylor Wimpey swung to a loss in the first half of the year after costs related to the coronavirus pandemic reached £39.2m. The figures The developer’s share price fell more than seven per cent this morning as it reported an operating loss of £16.1m, compared to a profit of £311.9m in 2019, and loss [...]
Taylor Wimpey takes a punt on £500m land buying splurge June 18, 2020 Housebuilder Taylor Wimpey has raised £522m from investors to help it buy up land which has been made cheaper by the coronavirus pandemic. The FTSE 250 company raised funds from both new and existing shareholders in a share placing, where shares were bought at 145p each. This represented a four per cent discount on yesterday’s [...]
Housebuilder Taylor Wimpey to reopen show homes and sales centres after government lifts restrictions May 13, 2020 Housebuilder Taylor Wimpey will begin the phased reopening of its show homes and sales centres this month, after the government lifted restrictions on the property market. The developer said sales centres and show homes will be available for pre-booked appointments from 22 May, and it will take the majority of its sales staff off the [...]
Taylor Wimpey warns of squeezed profit margin for 2020 February 26, 2020 Flat house prices amid 2019’s prolonged Brexit uncertainty hurt Taylor Wimpey’s profit margin last year, with no recovery expected in 2020, it revealed today. The figures Taylor Wimpey’s profit before tax climbed 3.1 per cent year on year to £835.9m in 2019. But weak house price growth and building costs knocked the firm’s operating profit [...]