Taylor Wimpey on track to deliver against FY guidance

Taylor Wimpey stated its net private sales rate for the year ended 17 April was "strong" at 0.96, down only slightly from 1.00 in the equivalent period a year earlier, with cancellation rates flat year-on-year at 14%.

The FTSE 100-listed firm's total order book value stood at approximately £2.97bn on 17 April, up from £2.80bn twelve months prior, and was made up of 10,957 homes, down from 10,995 in 2021.

Taylor Wimpey added it was continuing to see "healthy levels of house price growth" that had offset labour and material cost inflation.

"Trading is in line with expectations and we remain on track to deliver against our guidance set out at our 2021 full-year results in March. Whilst interest rates have risen, they remain at historically low levels and, with good availability of competitively priced mortgages, we are experiencing strong levels of customer interest," said Taylor Wimpey.

"We remain mindful of the wider uncertainty caused by the conflict in Ukraine as well as the pressures on cost of living caused by rising energy prices and other inflation, which we continue to monitor, and our focus remains on price optimisation, operational delivery and cost control. Despite the uncertainties, demand for new housing has remained resilient, demonstrating a high level of underlying demand for our homes. We continue to make progress towards our operational targets and remain confident of delivering enhanced shareholder returns."