Britain’s third-biggest housebuilder has warned that higher build costs are hitting margins, sending shares lower across the sector.
Taylor Wimpey said in a trading update yesterday that it now expected building costs to rise by 5% this year, compared with its earlier assumption of a rise of 3 to 4%.
The increases were coming from Brexit-related stockpiling, with builders seeking to have a five-week supply of stock compared with three-weeks.
