12 November 2025
Taylor Wimpey plc
Trading statement
Resilient performance despite a more challenging market
Jennie Daly, Chief Executive, commented:
"We have delivered a resilient performance thanks to the hard work of our teams on the ground. Market conditions remain challenging, impacted by uncertainty ahead of the upcoming UK Budget and continued affordability pressures.
We welcome the Government's planning reforms, and we hope to see continued momentum to enable the supply of much needed new homes across the UK as focus moves to the implementation phase. However, the Government's housing ambitions, and the significant economic and social benefits of increased housing supply can only be unlocked by effective demand, particularly for affordability constrained first time buyers.
Taylor Wimpey is a strong and agile business, and we remain well positioned to capitalise on the improving planning environment, generating value from our high-quality, well-located landbank, while advancing new opportunities in our pipeline. Looking ahead, UK housing market fundamentals are highly compelling. As set out at our recent Investor and Analyst event, we remain confident in our ability to deliver profitable growth and maximise shareholder returns over the medium term."
UK trading
Reflecting current uncertainty in the housing market ahead of the November Budget, we continue to experience softer market conditions in the second half of the year to date. As a result, for the period from 30 June to 9 November 2025 the net private sales rate per outlet per week was 0.63 (2024: 0.71), with a cancellation rate of 17% (2024: 17%). Excluding the impact of bulk deals, we achieved a net private sales rate of 0.61 (2024: 0.68) in the period.
For the year to date, we have achieved a net private sales rate of 0.72 (2024: 0.73), with a cancellation rate of 16% (2024: 15%). Excluding the impact of bulk deals, our net private sales rate for the year to date was 0.68 (2024: 0.68).
Our order book excluding joint ventures as at 9 November 2025 stood at 7,253 homes (2024: 7,771 homes), with a value of c.£2,116 million (2024: c.£2,214 million).
Underlying pricing remains broadly flat, and we continue to expect low single digit build cost inflation in 2025 as previously flagged.
Outlet openings are progressing in line with our expectations. In the second half to date, we operated from an average of 210 outlets (2024: 208), and for the year to date have opened 51 outlets compared to 34 for the comparable period last year.
We remain focused on driving landbank efficiency and optimising returns. Supported by Government initiatives, we are seeing better engagement with local authorities and have experienced some recent planning successes. We expect further improvements as policy is implemented by local authorities and after the Planning and Infrastructure Bill is passed.
As at the end of October 2025, our short term landbank stood at c.75k plots (29 June 2025: c.76k plots) and our strategic land pipeline stood at c.135k potential plots (29 June 2025: c.135k potential plots). In the year to date, we have converted c.2k plots from our strategic pipeline (2024: c.4k plots).
Outlook
We continue to expect to deliver full year 2025 UK completions and Group operating profit* in line with our previous guidance1, and remain on track to close out the year operating from 210-215 outlets as previously guided.
Against a backdrop of continued subdued consumer sentiment, we remain focused on managing the business tightly to generate value from our strong landbank to deliver profitable growth and maximise shareholder returns over the medium term.
* Operating profit is defined as profit on ordinary activities before financing, exceptional items and tax, after share of results of joint ventures.
1 As at 30 July 2025, Company guidance was for 2025 UK completions excluding joint ventures of between 10,400 to 10,800 homes and for 2025 Group operating profit including joint ventures of c.£424 million.
Note:
2024 relates to 2024 equivalent trading period, unless stated otherwise.
-Ends-
CEO Jennie Daly and Group Finance Director Chris Carney will be hosting a conference call and Q&A for analysts and investors at 9.00am on 12 November 2025. The call will be recorded and streamed live to our website:
https://www.taylorwimpey.co.uk/corporate/investors/results-and-reports
For further information please contact:
Taylor Wimpey plc Tel: +44 (0) 1494 885656
Jennie Daly, Chief Executive
Chris Carney, Group Finance Director
Debbie Archibald, Investor Relations
Andrew McGeary, Investor Relations
FGS Global [email protected]
Faeth Birch
Notes to editors:
Taylor Wimpey plc is a customer-focused homebuilder, operating at a local level from 22 regional businesses across the UK. We also have operations in Spain.
For further information please visit the Group's website: www.taylorwimpey.co.uk/corporate
Follow our company page on LinkedIn, Taylor Wimpey plc