Taylor Wimpey order book grows in ‘healthy’ housing market

Taylor Wimpey has reported growth in its order book, underpinned by a “healthy” housing market so far this year. The housebuilder said its total order book value stood at £2.8bn as at 18 April, representing 10,995 homes. This was up from £2.7bn in the previous year. Net private sales for the year ending 18 April stood at 1.0 per outlet per week, compared with 0.9 in 2020. Taylor Wimpey said that despite the national lockdown in the first few months of the year, demand for new housing has remained resilient. The company added that it has made “good early progress” on its 2021 priorities, including “driving operating profit margin and an enhanced cost control mindset across the business”. It is aiming for an operating profit margin target of circa 21-22% in the medium term. Pete Redfern, chief executive, said: “The UK housing market continues to be resilient and we are trading in line with our full year expectations. With strong market fundamentals, customer demand for our high-quality homes remains robust, and we are achieving a strong sales rate and building a healthy forward order book.” To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette