Taylor Wimpey upbeat as order book swells in Spring selling season
TAYLOR Wimpey said yesterday that it has enjoyed a strong start to the spring selling season thanks to high levels of customer confidence, driven by improving job prospects and more competition in the mortgage market.
The housebuilder, which has 24 regional businesses across the UK, said its total order book has grown by 24 per cent since the end of last year to 8,200 homes while its value has increased by 33 per cent to £1.9bn.
Cancellation rates remained low at 11 per cent and the average private net reservation rate was 0.76 sales per outlet per week higher compared with at the same time last year.
Meanwhile the average selling price of a home rose by 14 per cent year on year to £282,900.
“We have seen the UK housing market continue to grow, with increasingly competitive mortgages and secure employment prospects underpinning homebuyers’ confidence,” chief executive Pete Redfern said, adding that uncertainty surrounding the General Election has not impacted customer confidence.
“We are 67 per cent forward sold for 2015 completions, positioning us well for the remainder of the year and beyond,” he said.