23 Jun

House-builder positive about property industry

House-builder positive about property industry

UK house-builder Taylor Wimpey has issued some positive comments about the country's property industry.

In a statement released on Friday, the company revealed that its order book has grown by around 75 per cent since the start of the year and it is witnessing something resembling "stability".

The firm's order books apparently stand at £971 million, which is considerably higher than the £562 million reported at the beginning of 2009.

"We have been encouraged by the ongoing stability in the UK housing market, but remain cautious with regard to the prospects of the wider economy and in particular the potential impact of rising unemployment," it stated.

The group said that it had prepared for the worst, but the "severe downside scenarios" it had predicted do not look like materialising.

This news comes in the week that the National Association of Estate Agents reported that more potential buyers were registered with agents in May - compared to April - while each branch sold an average of ten homes during the month.

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