Taylor Wimpey believes that the UK housing market is in a ‘solid’ state

Taylor Wimpey believes that the UK housing market is in a ‘solid’ state

The UK’s third largest housebuilder in Taylor Wimpey have claimed that, despite the wide economic uncertainty, the UK housing market is in a ‘solid’ position.

Ahead of the company’s impending full year results, Taylor Wimpey released a statement which claimed that they sold their homes for an average of 4% more in 2017 than they achieved in 2016, with their total average selling price shooting up to £264,000.

The FTSE 100 builder stated that they also built 5% more homes than in 2016, meaning their calendar year total was an impressive 14,541.

In the past, Taylor Wimpey has seen their profits struck by a leasehold scandal, which aggravated homebuyers to the point that the company put £130m aside in order to assist. 

On the 10th January 2018, Taylor Wimpey also stated that they’ve managed to record remarkably high satisfaction scores over the second half of 2017, which they’re putting down to “a number of changes made to our approach” in 2016. 

The company also reiterated that they have reached numerous agreements with freeholders in order to allow “the substantial majority” of customers with a 10 year doubling lease, which can allow them to convent their ground rent terms to an inflation linked structure. 

The group said: “Whilst we are aware of potential political and economic risks, we expect to demonstrate further progress in 2018 against our medium term financial targets, whilst also driving further operational improvements where we can add value, including customer service and product quality.”

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