Stock rises

Taylor Wimpey rises as sector emerges from lockdown

housebuilding

Housebuilding remains in lockdown in Scotland

Taylor Wimpey said it is preparing for a return to work in Scotland as it order book across the UK continues to increase.

The stock advanced 5.6% in early trade to 167.6p after it reported a high level of requests to view its houses in recent weeks.

Cancellation rates have remained at a low level during the crisis and lower than the same period last year.

In the nine weeks since the start of lockdown there were 306 cancellations, which represents 5% of the private order book over that time (2019 equivalent period: 386 cancellations and 6% of the private order book).

The company, which has just secured permission to build 250 homes at West Craigs, Edinburgh, said forward indicators have improved since reopening sales centres in England and it has experienced a strong level of interest with a threefold increase in appointment bookings made in the week to 31 May and a 32% increase in website traffic compared to the same period last year.

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