House boom lifts Taylor Wimpey

A SPIKE in the price of Taylor Wimpey’s homes has fully made up for the soaring costs of staff and building materials, and supply chain shortages, its boss said.

Pete Redfern said the housebuilder delivered an ‘excellent performance’ last year, and that demand remains strong for its newly built homes, which became £12,000 more expensive on average.

It completed more than 14,000 last year, up by nearly half from the year before.

In 2020 construction sites were forced to close down for several months, so the number of completed homes was considerably lower than previously.

But Redfern, appointed in 2007, said: ‘We have delivered an excellent performance in 2021 and expect to report full-year results in line with our expectations.’

The average price for a Taylor Wimpey home rose by 4.2pc to £300,000 last year.

Redfern added: ‘Looking ahead, we are well placed to deliver against our targets. The outlook is positive.’