The chief executive of housebuilder Taylor Wimpey has welcomed “continued market stability” and “supportive” lenders in the face of affordability challenges.
In a trading update ahead of the company’s annual general meeting, the company said the spring selling season “is progressing in line with our expectations” and that lenders “continue to be supportive and mortgage rates remain competitive and below last year’s highs, with good product availability”.
Net private sales for the year to 21 April stood at 0.73 per outlet per week, down slightly from a year earlier at 0.75, with the cancellation rate dropping from 15% to 13%. The order book value is £2.1bn compared with £2.4bn a year ago.
Chief executive Jennie Daly said: “While we are mindful of ongoing market uncertainty and affordability challenges, it is pleasing to see continued market stability supported by good mortgage availability and sustained customer confidence…
“We are confident that we have a strong and resilient business supported by a high-quality, well-located landbank. We remain focused on driving value and investing in the long term sustainability of the business, and we remain on track to deliver our guidance for 2024 while ensuring we are positioned for growth from 2025, assuming supportive market conditions.”
Photo by © Neil Hall/EPA-EFE/Shutterstock
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