Taylor Wimpey reports 9% house price rise
Published:  30 April, 2010

LONDON: Taylor Wimpey, Britain's second-largest homebuilder, reported a 9% rise in its house prices in the first four months of the year.

About half the price gain came from selling higher-end homes, the company said in a statement yesterday.

"Although economic and political risks remain in the UK, we believe that the underlying shortfall of new-build housing and the strong levels of demand will continue to underpin the market," it s aid.

The housebuilder achieved 74% of its targeted full-year sales and 99% of its first-half sales. Sales rates in North America, which accounts for almost a third of the company's revenue, are ahead of a year earlier.

Its net debt fell to 660m, from 750.1m, at the end of December. Shares rose 1.08p to 421/2p in morning trading.

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