Taylor Wimpey reports strong start to year

Housebuilder Taylor Wimpey has reported a strong start to the beginning of the year, as the UK housing market continues to build momentum.

In a trading update for the period from 1 January, Taylor Wimpey said the “positive momentum” in the UK housing market had continued since it posted its results in February, with the firm reporting a “strong first quarter, with continuing improvement across all regions”.

The firm said its sales rate was slightly up on the same period the previous year, while its total order book was up 13% to 8,139 homes on the same point last year.

It said the average selling prices of homes have increased by around 22% from the equivalent point last year to approximately £248.9k (week 15 2013: £204.8k). 

The firm said: “This market has been driven by better access to mortgages at more affordable rates, which has improved with increased competition between mortgage providers.

“This, together with the extension of Help to Buy, has given more customers both the confidence and the ability to step onto or move up the housing ladder.”

Pete Redfern, Taylor Wimpey chief executive, said the firm had made “a particularly strong start to the year”.

He said: “The UK housing market remains buoyant and our customers continue to benefit from a more accessible and affordable mortgage market.

“In this improving market, we continue our investment in delivering high-quality homes and creating communities in places where people want to live.