Taylor Wimpey says housing market is “robust”

Taylor Wimpey, the UK’s third-largest housebuilder, has said the housing market has remained “robust” following the EU referendum after issuing its latest trading update.

The Company, along with the rest of the housebuilding industry, was initially hit by the uncertainty spanning from the Brexit result but has seen business return to normal levels.

The second half of 2016 saw the UK housing market remain positive, boosted by the wide range of mortgage products available with extremely favourable rates has seen the market retain a high level of customer confidence.

The number of cancellations since the Brexit vote in June has seen negligible change. The Company reported a continuation of low rates of 13%, up slightly on last year’s figure of 11%.

Taylor Wimpey said that sales fro 2016 have remained strong at 0.75 sales per outlet per week, down ever so slightly from 0.76 on the same period last year.

Pete Redfern, Chief Executive, said: “Trading during the second half of 2016 and into the autumn selling season has been strong, with good levels of customer confidence and demand underpinned by a wide range of mortgage products. While there remains some uncertainty following the UK’s vote to leave the European Union, we are encouraged to see that the housing market has remained robust and trading has remained resilient.

“We have a strong order book position for 2016 and going into 2017, and we will maintain our focus on delivering our medium term targets. Looking ahead, we continue to implement our disciplined strategy which ensures that we are well placed to perform well through all market conditions and deliver enhanced value through the cycle.”

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