Taylor Wimpey backs outlook as house sales and order book tick higher

Taylor Wimpey PLC on Wednesday reiterated annual guidance reflecting good demand for houses in the year so far.

The Buckinghamshire, England-based housebuilder said the Spring selling season has progressed as expected.

Net private sales rate for the year to April 27 was 0.77 per outlet per week, the firm said, up from 0.74 a year prior although the cancellation rate of 16% was higher than 13% a year ago.

Excluding bulk sales, net private sales rate for the year to April 27 was 0.76 per outlet per week, up from 0.70 a year ago.

At April 27, the total order book value stood at £2.34 billion compared to £2.09 billion a year prior.

Taylor Wimpey said the ‘resilient’ sales in the year to date is consistent with its full year UK completions guidance range of 10,400 to 10,800, of which 45% are expected to be delivered in the first half of the year.

In response, shares in the housebuilder were down 2.3% at 115.76 pence each in London on Wednesday.

Chief Executive Jennie Daly said: ‘The Spring selling season has progressed in line with expectations, with good levels of customer demand reflected in our sales rate.’

Taylor Wimpey also reiterated 2025 operating guidance, noting a company compiled consensus of £444 million.

Daly added: ‘Notwithstanding the wider macroeconomic backdrop, affordability is improving with lenders remaining committed to the housing market, albeit first time buyers continue to experience some challenges.’

She said while planning reforms are positive, they require ‘increased resources and a focus on the implementation phase to drive outcomes and deliver much-needed new homes across the country’.

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