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 ahead, demand remains strong despite the latest lockdown and the Group enters 2021 with more than 50 per cent of private sales in the orderbook. Once again suggesting that a stamp duty holiday is neither needed nor necessary,” housing market analyst Anthony Codling said.
Since the housing market shutdown in the second quarter of 2020, construction has returned to near normal levels, with the company’s net cash up by nearly £200m.
With the extra cash, the company intends to acquire new land over the next 18 months.