Taylor Wimpey property market increase

UK homebuilder Taylor Wimpey has reported a 12% increase in orders to £1.39 billion (€1.78 billion), which it said had been driven by greater market confidence.

This included reservations on a total of 6,600 properties, with the total rate of home completions increasing by 6% to 12,454 homes – which the firm said had improved with a strong level of mortgage availability.

The company said there “had been a return to a more balanced-housing market” during the first half of 2014 and confirmed it was developing a total of 305 sites across the UK.

According to the firm, one of the core reasons for greater stability within the market had been the newly-introduced government changes to stamp duty taxation – which meant potential buyers were now able to place more into initial deposits, further boosting the market.

Pete Redfern, chief executive, said, “As we enter 2015, we are encouraged by the more balanced market conditions, with a lower rate of price growth, which should create a healthy and more sustainable housing market. This is good news for homebuyers and underpins our confidence in developing and growing our business.”