British housebuilding firm sees slight increase in cancellations

However, Taylor Wimpey says housing market remains “robust” despite Brexit

Chief executive Pete Redfern says trading in UK housing market has “remained resilient”. Photograph: Getty Images

Chief executive Pete Redfern says trading in UK housing market has “remained resilient”. Photograph: Getty Images

 

British housebuilder Taylor Wimpey recorded a slight increase in cancellations so far this year and saw its sales rate marginally fall but said it expected to post an increase in full-year operating profit margin.

In the year to date, the firm saw cancellations rise from 11 per cent to 13 per cent and its sales per outlet fall from 0.76 to 0.75.

But it said its total order book for the year ahead was up on last year and that the UK’s June 23rd referendum to leave the European Union had not hit short-term demand for new homes – echoing comments from its peers in recent weeks.

“While there remains some uncertainty following the UK’s vote to leave the European Union, we are encouraged to see that the housing market has remained robust and trading has remained resilient,” chief executive Pete Redfern said.

– Reuters