Taylor Wimpey’s sales almost halve amid ‘economic uncertainty’

Taylor Wimpey’s sales have slumped as house buyers respond to “economic uncertainty”. The housebuilder said it had sold 0.51 homes per outlet each week in the second half of the year to date, down from 0.91 for the same period in 2021. And the cancellation rate rose from 14% last year to 24% this year. Chief executive Jennie Daly said: “While sales rates have been impacted by wider economic uncertainty, we continue to see good levels of customer interest in our homes and a desire to get onto or move up the housing ladder.” She added: “In a challenging economic and political backdrop we are performing well and are on track to deliver full-year operating profit in line with market expectations.” As of 6 November, Taylor Wimpey’s total order book, excluding joint ventures, stood at 9,153 homes and £2.6bn, down from last year’s 10,643 homes and £2.8bn. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews Image from Taylor Wimpey