Taylor Wimpey said its spring selling season is making progress and it is on track to meet full-year forecasts.

The house builder said in an update that it was seeing good levels of customer interest.

“We have delivered a resilient sales rate in the year to date, which is consistent with our full-year UK completions guidance range of 10,400 to 10,800, excluding joint ventures.”

Jennie Daly, chief executive, said: “The spring selling season has progressed in line with expectations, with good levels of customer demand reflected in our sales rate.

“As a result, we are today reiterating our guidance for full-year UK completions and UK group operating profit.

“Notwithstanding the wider macroeconomic backdrop, affordability is improving with lenders remaining committed to the housing market, albeit first-time buyers continue to experience some challenges.”

Taylor Wimpey warned at its full-year results in February that the interim operating margin would likely be lower year-on-year, due to the impact of underlying pricing in the order book flowing through to completions in the period, as well as rising building cost inflation.

Market reaction

Russ Mould, investment manager at AJ Bell, says: “While there were some positive elements of Taylor Wimpey’s trading update, the market will likely focus on the warning of continued margin pressures.

“It suffered from lower priced sales at the start of the year and it also shows the impact on the business of a lacklustre UK housing market and continued increases in build costs.

“What will be causing a bit of disquiet is some of Taylor Wimpey’s peers have signalled an improvement in profitability.

“Taylor Wimpey has been held back by having fewer outlets in operation than in 2024 – though this is expected to be addressed in the remainder of 2025.

“These headwinds are overshadowing some reassuring noises from the company about sales rates and demand – with limited evidence the global economic uncertainty is having an impact on buyers.

“Figures from Nationwide offer some evidence that house price growth has softened as stamp duty discounts became less generous.”