Taylor Wimpey Plc, 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.