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Taylor Wimpey hails 'healthy' housing market after increasing 2014 completions

Taylor Wimpey has said 2014 heralded the start of “a healthy and more sustainable housing market” after unveiling a 6 per cent increase in home completions for the year.

In a statement to the stock market, the housebuilder said it had completed 12,454 homes in 2014, up from 11,696 in 2013.

The average selling price for private homes was up 11 per cent to £234,000 while the company also said it was entering the new year with a “record order book” valued just short of £1.4bn.

Taylor Wimpey further said it expected its full-year operating margin to have improved by around 4 per cent, up from 2013’s 13.6 per cent.

The statement said the group saw a number of “positive signs” for the housing market, including the government’s announcement of reforms to the Stamp Duty Land Tax regime, announced in the Autumn Statement, and the reduced risk of interest rate rises in the UK.

Taylor Wimpey chief executive Pete Redfern said: “As we enter 2015, we are encouraged by the more balanced market conditions, with a lower rate of price growth, which should create a healthy and more sustainable housing market. This is good news for homebuyers and underpins our confidence in developing and growing our business. 

“Taylor Wimpey starts the year in an excellent position and whilst the global economic outlook is uncertain, in the UK we have an environment of sensible mortgage regulation and a reduced risk of UK interest rate increases in the near term. Overall we believe that the market and political risk for our sector is balanced and will allow Taylor Wimpey to continue to make significant progress towards our medium term targets.”

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