Taylor Wimpey anticipates full-year completions will be at the lower end of it guidance range after facing a “challenging market” in the first half of the year.
The Group had previously forecast between 10,600 and 11,000 completions, but now expects to build between 10,600 and 10,800.
For the half-year ending 28 June 2026, the housebuilder saw pre-tax profit improve to £116.8million after recording a £92.1million loss in H1 2025 as a result of cladding costs. However, pre-tax profit before exceptional costs tells a different story, falling from £148.1million last year to £118.6million in H1 2026.
Taylor Wimpey saw group completions including joint ventures total 4,986 homes during the period, down from 5,264 the previous year. Excluding joint ventures, the figure stands at 4,723, down from 4,894 year-on-year, with affordable completions making up 21.5% of total UK completions.
The Group reported a net private sales rate of 0.75 per outlet per week, down from 0.79 in H1 2025, while its cancellation rate fell from 16% to 14%.
Taylor Wimpey has a total order book representing 6,882 homes, excluding JVs, with a value of £1,929million at 28 June 2026, falling from 7,269 homes with a value of £2,116million as of 29 June 2025.
The Group’s UK average selling price increased by 6.7% to £334,000, up from £313,000 in the same period the previous year, while its average UK outlets also increased by 6% year-on-year, from 206 to 219.
The housebuilder has also announced plans to cut its annual shareholder payout policy from 7.5% to 4% of net assets, which it says will “preserve balance sheet strength” and “retain financial flexibility”.
Jennie Daly, chief executive of Taylor Wimpey, commented: “We delivered a solid first half performance in a challenging market, reflecting the hard work and commitment of our teams. We achieved a robust sales rate and continued to make positive planning progress supporting further outlet growth.”
“Against a backdrop of continuing market uncertainty in which affordability remains stretched, we are focused on delivering our strategy and generating value from our strong balance sheet and high-quality, well-located landbank. We are managing the business tightly, controlling costs and building resilience for an improved housing market when it comes. Reflecting the prolonged nature of the downturn which has reduced expected profitability and cash generation, the Board has reviewed the level of cash returns and deemed it prudent to revise our Distribution Policy to preserve balance sheet strength, retain financial flexibility and support our commitment to optimising shareholder returns through the cycle.”
“Housebuilding drives growth, jobs and opportunity across the UK, and getting first-time buyers onto the housing ladder is essential for a functioning housing market. Rising build costs and the cost of regulation are making it harder to build in the places where homes are needed most. As one of the country’s largest private and affordable homebuilders, we are well positioned to deliver, and we look forward to working with the government on practical measures to unlock demand and support housing delivery.”
