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UK housing demand picks up for Taywood

House builder Taylor Woodrow signalled signs of a recovery in the UK housing market with reservations 15 per cent up on last year.
Net reservations since the end of June rose 15 per cent on the same period last year, with sales completed at slightly fewer sites, the company said in a trading update to the London Stock Exchange.

Taywood has housing operations in the UK, US and in Spain. Competition remains strong in the UK and margins are still under pressure.

Sales of its products in the US has produced a record forward order book for this year and next. Overall, US sales were robust but it saw signs that house prices are moderating in a number of price inflation hotspots.

Hurricane Wilma, which hit the east cost of the US, Mexico and the Caribbean last month, caused some interruption to Taywood's building plans mostly through power and labour shortages.

Nevertheless, the company does not expect any impact on its profits and is on course to complete three high rise projects in Florida during this financial year. Taywood has North American operations in Phoenix, California, Texas, Florida and Canada.

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