News Column

Housing Taylor Wimpey upbeat as profits improve

July 8, 2014

Katie Allen

Taylor Wimpey has reported a strong first half to the year, with prices for its new homes and sales rates at the upper end of the firm's expectations in the first six months of 2014. The house-builder appeared unconcerned by Bank of England moves on mortgage lending last month, introducing measures that could bite if house prices rise more than 20% by early 2017. The measures followed the implementation in April of stricter regulations on home loans under the mortgage market review.

Taylor Wimpey said: "We are focused on the long term and delivering sustainable returns for our shareholders and so welcome sensible measures to reduce long-term risk and protect stability, such as the new regulations following the mortgage market review and the measures announced by the Bank of England in June." It said the average selling price of completed houses rose to around pounds 206,000 from pounds 188,000 a year earlier. It highlighted a solid order book for homes and continued support from Help to Buy. Katie Allen

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Source: Guardian (UK)

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