Profits fall at major housebuilder as fewer homes being bought
Profits fell by a quarter at one of the UK's major housebuilders, as fewer purchases are going through in the current high inflation and mortgage rate environment.
Fewer houses are being bought, Taylor Wimpey's results show, as pre-tax profit fell to £237.7m, down from £334.5m during the same period in 2022. Sales at the UK's third biggest housebuilder fell along with profits in the first six months of 2023. The sales rate dropped for private sales and bulk deals, as did the cancellation rate for the first half of this year, compared with the same period in 2022.Please use Chrome browser for a more accessible video playerThe order book, which measures future sales performance, stood at £2.14bn on 2 July, a decrease from £2.8bn a year earlier.
Taylor Wimpey said it planned to build 10,000 to 10,500 homes this year, compared with the 14,154 built in 2022., which may be using cookies and other technologies. To show you this content, we need your permission to use cookies. You can use the buttons below to amend your preferences to enablecookies or to allow those cookies just once. You can change your settings at any time via the
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