Like its housebuilding contemporaries, FTSE 100-listed Taylor Wimpey PLC (LSE:TW.) has been well supported in the market following the Labour Party’s sweeping election victory on a pro-growth campaign platform.
Now investors will be eyeing an improved outlook when Taylor Wimpey reports its interim results next week.
Current projections have Taylor Wimpey building between 9,500 and 10,000 new homes by the end of the year, with completions expected to be 55% weighted to the second half.
As Taylor Wimpey said in April, there is “significant unmet demand” for housing stock in the UK, something the Labour government has pledged to address.
One of Labour leader Keir Starmer’s cornerstone policies is to build 1.5 million new homes within five years.
It is a lofty pledge that has nonetheless kept housebuilder share prices, including Taylor Wimpey’s, elevated since Labour clinched power on 4 July.
Taylor Wimpey could see further upward repricing if it increases near-term unit guidance when it delivers its half-year results on Wednesday, 31 July.
The stock is currently 9.3% higher year to date at 157.5p.