Housebuilder Taylor Wimpey cheers green shoots of spring

High demand: Housebuilder Taylor Wimpey said it is ‘positioned for growth’ from next year 

Taylor Wimpey cheered strong demand at the start of the spring selling season.

The FTSE 100 housebuilder said yesterday that it is ‘positioned for growth’ from next year as the housing market showed green shoots of recovery.

Spring sales were in line with expectations and Taylor Wimpey said it is on track to meet its housebuilding target for 2024. It comes as the Bank of England is forecast to cut interest rates this summer in a boost for homeowners.

However, major lenders including Barclays, HSBC and NatWest hiked rates this week as cuts are expected to come later in the year than previously hoped.

Taylor Wimpey will build between 9,500 and 10,000 homes this year – around 1,200 fewer than in 2023.

Shares increased by 1.3 per cent yesterday.