Taylor Wimpey PLC (LSE:TW.) said it remains on track to meet its full-year 2025 expectations for UK completions and group operating profit, despite subdued market conditions and a softer sales rate in the second half of the year.
The housebuilder reported a year-to-date net private sales rate of 0.72 homes per outlet per week, with the second half at 0.63, with cancellation rates unchanged at 17%. This is down from 0.79 per outlet per week at the half-year stage, or 0.73 if excluding bulk deals.
It added that government planning reforms were showing early signs of progress, supported by increased engagement with local authorities. However, in the short-term, it said the market was being held back as homeowners wait to see what is announced in the Budget later this month.
As of 9 November, the company’s order book stood at 7,253 homes with a value of approximately £2.1 billion, down from 7,771 homes and £2.2 billion a year earlier.
Chief executive Jennie Daly said: “We have delivered a resilient performance thanks to the hard work of our teams on the ground.
"Market conditions remain challenging, impacted by uncertainty ahead of the upcoming UK Budget and continued affordability pressures.”
Outlet openings have accelerated in 2025, with 51 launched so far compared to 34 over the same period last year. Taylor Wimpey said it remains on track to end the year operating from between 210 and 215 outlets.
The company continues to expect low single-digit build cost inflation and said underlying pricing remains broadly flat.