According to the firm, its total UK home completions (including joint ventures) saw a 47% rise to 14,087 against 2020. However, this was still down on the 15,719 total completions of the pre-pandemic 2019. The private average selling price rose 3% to £332,000.
Taylor Wimpey’s net private reservation rate for 2021 was 0.91 homes per outlet per week compared to the previous year’s 0.76.
According to the company, demand for its homes remains strong, with the firm closing sales outlets ahead of time, trading from an average of 225 outlets in 2021 against 2020’s 240. It began 2022 with 228 outlets (December 31 2020: 239), with the business remaining confident that it would increase its outlets meaningfully from H2 2022.
It noted that during the year house price inflation had fully offset build cost inflation and stated: “Our national scale and strong partner relationships and agreements enabled us to effectively manage these pressures."
TW also highlighted its “excellent order book” into 2022, valued at £2,550 million, with the business 47% forward sold for the new financial year.
CEO Pete Redfern, said: “Market conditions remain supportive and we continue to see strong demand for our homes. Our strategy of optimising sales rates, prices and operational excellence and efficiencies is enabling us to drive a significant improvement in operating margin.”
