Taylor Wimpey interim statement

graeme at 9:14 a.m. Wed 04 Nov 2009

House builder Taylor Wimpey’s management statement for the last four months is upbeat, as is much of the current news from residential property.

In the UK, selling prices are up 9%, and cancellations are down. The order book has shrunk slightly since last year, which does not really make sense in the context of the other numbers. The higher prices reflect improvements to Taylor Wimpey’s sales mix rather than the recovery in house prices, but is nonetheless encouraging.

Taylor Wimpey does not seem to be doing as well in the US, and the two lines the statement contains on the Spanish business suggest that the business is still suffering from the tough conditions in that market.

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