Housebuilder Taylor Wimpey has increased home completions by 5% in the year to 31 December 2019, despite political and economic uncertainty.
The company revealed in a trading update that it completed 15,719 homes during a year in which it attempted to improve its build quality as well as its operational capacity.
Including joint ventures, it delivered 3,548 affordable homes, which equated to 23% of completions. Average selling prices on private completions increased by 1% to £305,000, with the overall average selling price increasing to £269,000.
Build cost inflation was around 4.5% although Taylor Wimpey said that over the past few months it had seen a “softening” in the cost pressures it experienced in 2019.
Operating profit margin for the year is expected to be 19.6%, down slightly from 21.6% in 2018.
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Taylor Wimpey – I think rather than TW focussing on increasing the number of properties they are building, should actually take a step back and look at the quality/safety of these new builds, this is a subject close to my heart as an owner of a newly built TW home I still have outstanding snags from March last year with some items been repeatedly looked at and some items just ignored, even after emailing directors on a number of occasions. It looks like margin or shall I say once they receive the money for the new home then everything else goes slow of falls on death ears. Poor show Taylor Wimpey