Taylor Wimpey upbeat on buyer confidence

| April 30, 2010 | 0 Comments

Taylor Wimpey describes UK housing market conditions as “encouraging” since the start of the year, with continued gradual improvements in mortgage availability and buyer confidence.

Britain’s second-biggest house builder estimates that it has achieved 99% of its half-year sales targets and 74% for the full year.

Private sales volumes remain in line with a year earlier, at an average 0.61 sales per site per week, and cancellations have been running at 14.8%, showing a significant improvement on the cancellation rate of 18.5% seen in the early months of 2009.

Prices achieved on sales of private homes are up by approximately 9% on the year, of which around 5% has resulted from changes in mix and 4% from underlying price increases.

Looking to the future, the group states: “Although economic and political risks remain in the UK, we believe that the underlying shortfall of new build housing and the strong levels of demand will continue to underpin the market.”

Adding: “However, we remain concerned that the shortage of consented land will artificially constrain industry volume recovery in the medium term.”

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