Developer Taylor Wimpey has posted “record order book levels” over the summer, with sales rates up by about 22% from the same period last year.
Sales rates for the second half to date were 0.73 sales per outlet, compared to 0.60 last year.
Targeted 2015 completions are already fully sold, and on 8 November about 27% of expected private completions for 2016 had been forward sold.
The total order book represents 8,546 homes at a record £2.1bn (compared to 7,814 at £1.7bn on the week ended 9 November 2014).
Taylor Wimpey chief executive Pete Redfern said: “We have seen an excellent summer selling season strengthen further in the autumn period, with customer confidence high and demand underpinned by rising real wages and good access to a wide range of mortgage products.
“Against this backdrop, we are reporting record order book levels and expect to deliver an improvement in operating profit margin of over 200 basis points in 2015 and a return on net operating assets of over 25%.
Cancellation rates for the year to date continue to remain low at 12%, compared to 13% last year.
Net cash at the end of 2015 is expected to be £220m; compared to £112.8m in 2014.
Build costs have increased by about 5% during 2015, but have been offset by sales price growth.
Taylor Wimpey said it expected to see a slightly lower level of build cost increase in 2016 as more workers were recruited, including through its apprentice, management and graduate trainee schemes.
