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.
