LONDON: Taylor Wimpey said its sales have recovered after a lull around the time of the general election but political uncertainty is leading to caution in the sector.
The third-largest volume house builder said private sales rate for the year to date are broadly flat year-on-year at 0.58 sales per site per week, while its order book is strong.
"In the short term, however, with ongoing political and economic uncertainty, we continue to run the business on a cautious basis, with selective land investment and an ongoing focus on costs and cash," said Taylor Wimpey in a statement.
Taylor Wimpey echoed comments from luxury flat developer Berkeley Homes on Friday that sales had recovered since a dip around the general election.
But house prices remain under pressure due to macro economic uncertainty. House prices in May fell 0.4%, according to mortgage lender Halifax, while the Nationwide Building Society reported a 0.5% rise for the month, half the rate of the previous two months.
Taylor Wimpey said it expects to complete 4,650 homes in the first half at an average selling price of £167 000. This compares with 4,702 homes at an average selling price of £153 000 in the same period last year.
