Housebuilder is looking for land-buying opportunities, as it expects to see an increase in price of homes in second half of year

Housebuilder Taylor Wimpey has said it expects to start work on new sites in the autumn, if “current market stability” is sustained.

In a trading update to the city, the firm said it was looking for land-buying opportunities, and would “look to increase the number of outlet openings during the second half of the year”.

It also said it expected to see an increase in the average price of completed homes during the second half of the year.

While mortgage valuations and availability are still issues, there are signs that the situation is beginning to improve, the firm added in a press release. Net private reservation rate stood at about 0.6 per site per week, according to the firm.

Taylor Wimpey said it had seen an increase of 73% in its order book since the year end, from £562m to £971m.