Taylor Wimpey welcomes in the new year with what it describes as “good levels of enquiries”, following a challenging year for the UK housebuilder.

In the company’s trading statement for the year 2023, published today (11 January), the rise in enquiries is accredited to the recent reductions in mortgage rates.

The fall in demand across the industry- a suspected repercussion of the rising cost-of-living and the increase in interest rates, saw the company report completion on 10,438 UK home sales, a considerable decrease from 13,773 competitions a year earlier.

Jennie Daly, Group CEO says; “Looking ahead, it is encouraging to see a reduction in mortgage rates, however, in the short term the market remains uncertain and the planning backdrop extremely challenging.”

Daly’s sentiments are echoed within the Group’s trading statement, stating that as long as the planning environment remains ‘challenging’, it will continue to “impact outlet openings.”

She ends on a positive note by saying; “We remain confident in the attractive medium and long term fundamentals of the sector.”