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Taylor Wimpey PLC on Wednesday backed full-year guidance despite ‘challenging’ market conditions impacted by doubts ahead of the budget and continued affordability pressures. The Buckinghamshire, England-based housebuilder said it continued to experience softer market conditions in the second half of the year to date, reflecting ‘current uncertainty in the housing market ahead of the November budget.’ As a result, the net private sales rate per outlet per week was 0.63 between June 30 to November 9, down from 0.71 a year ago, with the cancellation rate unchanged at 17%. Excluding the impact of bulk deals, the firm achieved a net private sales rate of 0.61 per outlet per week, down from 0.68. In response, shares in Taylor Wimpey fell 2.9% to 102.70 pence in London on Wednesday morning. It was the biggest faller on the FTSE 250. The order book, excluding joint ventures, at November 9 stood at 7,253 homes, down from 7,771 homes a year ago, with a value of £2.12 billion, down year-on-year from £2.21 billion. Against a backdrop of continued subdued consumer sentiment, Taylor Wimpey said it remains focused on managing the business ‘tightly’ to generate value from its ‘strong’ landbank to deliver ‘profitable growth and maximise shareholder returns over the medium term.’ The firm continues to expect 2025 UK completions excluding joint ventures of between 10,400 to 10,800 homes, and 2025 group operating profit including joint ventures of around £424 million. In 2024, the company reported completions of 10,593 and an operating profit of £416.2 million. Looking ahead, Taylor Wimpey said UK housing market fundamentals are ‘highly compelling’, and it remains ‘confident in our ability to deliver profitable growth and maximise shareholder returns over the medium term.’ It welcomed the government’s planning reforms but said the benefits of increased housing supply can only be unlocked by ‘effective demand, particularly for affordability constrained first time buyers.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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