2013 so far...
Thursday, 25 April 2013 - Pete Redfern
We released our Interim Management Statement this morning which gives an update of how we have performed over the last four months and how we see the outlook for the housing market generally.
At Taylor Wimpey, we’ve made a strong start to 2013. We have felt for a while that things are ‘looking up’ for the housing market generally and this has been reinforced over the last eight weeks. We have seen an increase in visitor levels and reservations, driven by improvements in customer confidence and helped by the Government’s budget announcements, particularly Help to Buy. We have also seen significant increases in customer interest following the Help to Buy announcement and the scheme has already proven popular for those looking to get onto or move up the housing ladder. In fact since its launch on 1 April, we have helped customers reserve or register their interest for an additional 300 homes.
Across the UK, housing market conditions remain stable, and we have seen improving conditions across our business led by the South East. However, mortgage lending has not increased fundamentally and this continues to be the single biggest constraining factor. There is no doubt that the first four months have been encouraging, but we don’t forget that the wider uncertainty which we all experienced over the last few years hasn’t completely gone away. As such we think it’s right to remain cautious, even given the more optimistic outlook.