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.
