Struggling With Sales: Taylor Wimpey, one of Britain’s biggest house builders, has reported reservations of new UK houses were 45 per cent lower in the 26 weeks to 29th June 2008, than they had been in 2007. A further 29 per cent of its orders in this period were cancelled, compared with 19 per cent a year previously.
Pete Redfern, Taylor Wimpey chief executive said,
Struggling With Sales: “We think that we’ve got the time and options to complete the capital fundraising, in the near future. We don’t rule out any funding options.”
The spring selling season had been severely impacted by the lack of mortgage availability and worsening consumer confidence. The total value of its order book was down 33 per cent on a year ago, with average selling prices down 8 per cent.
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