Housebuilder hit by ‘uncertainty’ of what’s in chancellor’s plans in two weeks’ time

Taylor Wimpey’s sales rate has dipped in the second half of the year, which it says reflects uncertainty ahead of the Budget later this month.

Chief executive Jennie Daly said: “Market conditions remain challenging, impacted by uncertainty ahead of the upcoming Budget and continued affordability pressures.”

In a trading update, the housebuilder, in an unaudited trading update today, said its net private sales rate per outlet per week was 0.63 from 30 June to 9 November, down from 0.71 in the same period last year.

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Budget uncertainty and affordability pressures have hit sales, the housebuilder said

“Reflecting current uncertainty in the housing market ahead of the November Budget [on 26 November], we continue to experience softer market conditions in the second half of the year to date”, it said.

But Taylor Wimpey said it still expects its full year operating profit including joint ventures to be around £424m, as previously forecast.

It also said its forecast for completions of between 10,400 and 10,800 homes remains unchanged.

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