Taylor Wimpey plc, the UK’s largest homebuilder by market value, said that the average price of homes on order rose 9 per cent from the first half as the market continues to be ‘significantly better’ than last year.
The company has opened 22 more sales sites so far in the second half, London-based Taylor Wimpey said yesterday in a statement. Cancellation rates have fallen to 16 per cent, from 19 per cent in the first half, it said.
Evidence is growing that the country may have exited its worst property slump in 25 years. Mortgage lender Halifax, a division of Lloyds Banking Group plc, said on Tuesday that home values climbed by 1.2 per cent last month, after gaining 1.5 per cent in September.
‘We didn’t experience the usual seasonal industry slowdown over the summer, and sales rates have remained solid into the autumn,’ chief executive officer Pete Redfern said in an interview. He said that data from mortgage lenders Halifax and Nationwide Building Society tend to exaggerate price increases and decreases, and said that he sees ‘a solid, stable market’, but nothing more. Continue reading
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