Taylor Wimpey has announced that it has built more homes than at any point in the past six years, with a “healthy increase” in completions of 7% in 2015.
Giving an update on the year ending December 31 2015, full details of which will be announced on March 1, Taylor Wimpey said that its total home completions rose to 13,341 against 12,454 in 2014.
Its net private reservation rate during the year was 0.73 homes per outlet per week, compared to 2014’s 0.64. Average selling prices of private completions climbed 9% to £254,000, as a result of the firm picking “better quality locations”.
The company’s year ended with a “record” year end order book, rising 27% in value to £1,779 million as of December 31 2015 against 2014, representing 7,484 homes (December 31 2014: 6,601 homes). Taylor Wimpey began 2016 with 297 outlets, slightly less than the 305 as of the end of 2014.
Pete Redfern, Taylor Wimpey’s CEO, said: “We have delivered a strong trading performance in 2015, in a positive housing market, building more homes than at any point in the last six years and delivering a record operating profit margin of over 20%.
“We are confident that the principles we are operating to will deliver long term sustainable value across the housing cycle.”