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.
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Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
