The FTSE 100 company said the bad weather round about the time of “The Beast from the East” had depressed demand for a while and affected the rate at which houses were built, but things have picked up again.
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Customer demand for housing continues to be strong, the house-builder’s AGM statement said, although completions are likely to be weighted more towards the second half of the year than in 2017.
The builder set it on track to meet full-year expectations and to end of the year with a net cash position more or less on par with the end-2017 position.
Build cost inflation is anticipated to be at similar levels to 2017, at around 3-4%, as previously indicated, the builder said.
Average private sales for the year to date were 0.85 per outlet per week (2017 equivalent period: 0.93) in line with Taylor Wimpey’s expectations. Cancellation rates remained low at 13% (2017 equivalent period: 10%).
As at 22 April 2018, the builder’s total order book value stood at around £2.16bn, compared to £2.21bn in the same period of 2017; this represents 9,050 homes, down from 9,219 homes in the same period of 2017.