TAYLOR Wimpey has reported that the new build housing market remains “very positive” because of good accessibility to mortgages at competitive rates.
At its annual meeting yesterday the house builder revealed customer demand was up 14 per cent in the first four months of 2016, in comparison to the same period last year.
Average private net reservation rates increased to 0.8 sales per outlet per week for the year to date, up from 0.76 in 2016. Cancellation rates remained low at 11 per cent.
The company’s total order book currently stands at 8,811 homes excluding legal completions. Total order book value has also increased, by 16.6%, to approximately £2.2 billion.
Pete Redfern, chief executive, commented: “Against the backdrop of a positive housing market, Taylor Wimpey is performing well, with increased customer demand for our homes and good access to mortgages driving strong sales rates.”
The company added that the uncertainty surrounding the European Union referendum has not impacted trading to date. It added that it was well equipped to react to any potential changes in the market that may be caused by the EU referendum.
Shareholders overwhelmingly voted in favour of the directors’ remuneration package. The company awarded a dividend of 1.18 pence per share, giving a total dividend for 2015 of 1.67 pence per share, up 17.6 per cent. The company also confirmed it would be paying a special cash dividend of 9.2p on 15 July.
It did not release any Scottish-specific information at its trading update, however the average selling price for a property in Scotland and the North East of England is currently £206,000.
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