Taylor Wimpey prices up 9%

29th Apr 2010 07:22

Taylor Wimpey has lifted selling prices of homes in the UK by 9% since January as the housing market continues to recover. The housebuilder adds that UK market conditions remain "encouraging, with continued gradual improvements in mortgage availability and buyer confidence".Prices achieved on sales of private homes are up by approximately 9% on the equivalent period in 2009, of which around 5% results from active changes in mix and approximately 4% from underlying price increases, it added.Year to date sales rates for North America are also ahead of the equivalent period in 2009. In the US, the average sales rate per site per week, net of cancellations, is 0.48 for the year to date ahead of the 0.37 in the corresponding period of 2009. The business in Canada continues to perform strongly, it added.In the UK, Taylor Wimpey says the underlying shortfall of new build housing and the strong levels of demand will continue to underpin the market, while the US is forecasts to start to recover more steadily by the end of the year. Net debt stands at about £660m, in line with its plans, the firm added.