Taylor Wimpey has highlighted better conditions in the housing market as it prepares to announce annual profits at the top end of expectations.
As well as the anticipated 40% rise in operating profits for last year, Wimpey said consumer sentiment over the first two weeks of 2013 had been the most positive it had seen in recent times.
The group said it had been helped by a number of major lenders reducing their mortgage rates due to the Bank of England’s Funding for Lending scheme.
Wimpey has also supported first-time buyers with the purchase of 1,203 homes under the Government’s FirstBuy scheme, as well as 546 homes under initiatives designed to help those with smaller deposits.
The company reported a “substantial” order book at the start of this year, with the increase in value to £948 million representing 5,966 homes.
The UK business sold 10,866 homes at an average price of £181,000 last year.
The recovery in its trading performance was also highlighted in its UK operating margin, now in double-digits compared with 8.8% in 2011. The company announce its results for 2012 on March 1.