Taylor Wimpey expects 5% rise in completions despite uncertainty
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.