Investors in the housebuilding sector and homeowners alike may keep an eye on Taylor Wimpey results tomorrow after Persimmon shares fell more than 10% on the back of full year results.
However, since October the stock has rallied by 30% as hopes that the biggest struggles to the UK housing market had passed.
Like rival Persimmon, Taylor Wimpey will have to deal with the end of the government’s Help-To-Buy scheme at the end of March, which won’t help if demand is struggling.
Additionally, the prices of UK houses have continued to fall for the fifth month in a row, according to numbers from Nationwide.
ONS data suggests the UK is back at 2015 levels, while prices have dipped by around £12,000 a Halifax survey revealed.
Sales will be a key factor for the High Wycombe base company, especially after Persimmon reported that should the current sales rates continue in 2023 it would expect around a 40% drop in completions.
Taylor Wimpey predicted underlying profits of £921mln in an update in January so again the focus will be on how it sees the current year ahead panning out.
The company’s share price is down 4% today after opening trading at 119p.