Taylor Wimpey Shares Drop 4% On News Of Pre-Budget Sales Weakness [Forbes]
TAYLOR WIMPEY UNSP/ADR (TWODY)
NASDAQ:AMEX Investor Relations:
taylorwimpey.co.uk/corporate/investor-relations
Company Research
Source: Forbes
At 102p per share, Taylor Wimpey's share price was last 3.6% lower. The company noted that “reflecting current uncertainty in the housing market ahead of the November Budget, we continue to experience softer market conditions in the second half of the year to date.” Between 30 June and 9 November, Taylor Wimpey's weekly net private sales rate per outlet dipped to 0.63 from 0.71 in the corresponding 2024 period. Excluding bulk sales, the builder's sales rate dropped to 0.61 from 0.68 previously. The cancellation rate remained unchanged at 17%. Rumours circulate that the UK government may replace Stamp Duty with a new property tax at the Budget on 26 November. According to reports, Chancellor of the Exchequer Rachel Reeves may slap a levy on home sales valued above £500,000. Weak Recovery For the year to date, Taylor Wimpey's sales rate fell slightly to 0.72 from 0.73 in 2024. Excluding bulk deals the sales rate was stable at 0.68. The builder's cancellation rate rose t
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