Taylor Wimpey offers bullish post-Brexit report

Taylor Wimpey, delivering the housebuilder’s half year results, was resoundingly positive in the immediate post-Brexit climate, saying that “one month on from the EU referendum, trading remains in line with normal seasonal patterns.”

The firm’s chief executive Pete Redfern commented:

“Customer interest continues to be high, with a good level of visitors both to our developments and to our website.

“We are monitoring customer confidence closely across a number of metrics, including appointment bookings, and these continue to be solid.

“Whilst it is still too early to assess what the longer term impact from the referendum result may be on the housing market, we are encouraged by the first month’s trading and by continued competitive lending from the mortgage providers, as well as the positive commentary from Government and policymakers.”

He said the company’s order book was looking strong, having grown to over £2.2bn at 24 July, and the firm was around 90 per cent forward sold for 2016. A total of 6,019 homes had been completed (excluding joint ventures), and this was up 3.0 per cent year on year. The total average selling price had increased 5.8 per cent to £238k, again excluding joint ventures, and Taylor Wimpey had seen a 12.1 per cent uplift in gross profit to £266.6m.