Housebuilder maintains its 鈥渟trong sales performance鈥� during the first half
Housebuilder Taylor Wimpey has maintained its 鈥渟trong sales performance鈥� during the first half of this year and it was in track to deliver an improved performance in its full year results.
In a trading update to the City this morning, the firm said it had achieved an average private net reservation rate of 0.60 sales per outlet per week, compared to 0.56 over the same period last year.
It said this included a total of 201 home reservations under the NewBuy scheme since its launch in March 2012, representing around one-third of overall industry reservations.
Taylor Wimpey said it had completed a total of 5,083 homes during the first half of 2012, up from 4,707 over the same period last year, of which 4,137 were private completions (2011: 3,675), 893 were affordable completions (2011: 1,004) and 53 were share of joint venture completions (2011: 28).
It said the overall average selling price of these completions increased to around 拢175k ( 2011: 拢168k), with the average selling price on private completions increasing to 拢188k, up from 拢182k in 2011, reflecting 鈥渁 higher quality product mix in terms of both size and location鈥�.
The firm added that the average selling price on affordable completions decreased to around 拢115k from 拢117 over the same period in 2011.
The firm said its total order book value, excluding completions to date and joint ventures, was 拢960m at 1 July 2012 - up from 拢932m at the same point last year, representing 5,720 homes (2011: 5,989 homes).
We have maintained our strong sales performance during the first half of this year,
The firm said it had also increased its use of the government-backed FirstBuy scheme, although it said it retained a 鈥渃autious approach to the use of shared equity incentives in general.鈥�
The firm added that it had approved the purchase of around 7,000 plots during the period on approximately 50 sites.
The firm said: 鈥淯K market conditions remain stable, with underlying pricing unchanged over the course of the first half of 2012.
鈥淢ortgage lending continues to be restricted, although we have been encouraged by the introduction of a number of higher loan to value products since the start of the year, most notably under the NewBuy scheme.鈥�
鈥淒espite the continued uncertainty in the Euro-zone and global economy, the UK housing market has remained stable throughout the first half of 2012 and we will report improvements across all key financial metrics at our half year results.鈥�
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