HOT OFF THE WIRE

Taylor Wimpey Says 2012 Completions Met Target on Private Sales

Taylor Wimpey Plc (TW/), the U.K.’s second-largest homebuilder by volume, met its target for home completions through 2012, led by private sales of residential real estate.

The order book stands at 1.11 billion pounds ($1.7 billion) of homes for the 19 weeks through Nov. 12 compared with 1.02 billion pounds compared with a year earlier, the London-based company said in a statement today.

“We continue to take a cautious approach, given the uncertainty in the wider economy, conditions within the U.K. housing market remain stable,” the homebuilder said.

The U.K.’s fragile recovery from a double-dip recession and low credit availability has curbed demand for homes. House prices fell for a fourth month in October as the economy’s weakness hurt demand in the property market, Halifax said Nov. 6. Prices may fall as much as 2 percent next year as values in every part of the country drop for the first time since the financial crisis, Knight Frank LLP said last week.

To contact the reporter on this story: Christopher Spillane in London at cspillane3@bloomberg.net

To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.