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HIGH HOPES FOR BUILDERS
TWO of Britain’s biggest housebuilders yesterday fuelled hopes that consumer confidence was on the mend by reporting rising sales and prices.
Taylor Wimpey and Redrow saw their shares head upwards as they said the UK housing market was poised for a recovery.
Peter Redfern, chief executive at Taylor Wimpey, said: “Our expectations are for a slow, gradual recovery. Housing stock is in short supply, but we expect growth of around 2-3%, not 10% or so, and we are quite comfortable with that.
“We are not expecting a sudden downward shift.”
Taylor Wimpey shares rose 3p to 40p, while Redrow’s went up 10p to 149½p.
Taylor
Wimpey has sold its entire stock of houses for this year, believed to
be around 10,500 homes, with average selling prices 9% higher at
£177,670 for the first half to date.
Redrow said forward reservations had jumped 47%, and it was selling an average of 45 homes a week.
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