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Taylor Wimpy see signs of improvement in housing market

UK housing giant Taylor Wimpy has announced an improvement in the UK housing market after a very difficult period just prior to the election. It is well-known that sales in the weeks prior to the last general election fell although it would look as though interest has improved significantly since the new government moved into office. As a consequence, the company is likely to announce like for like sales at the same level as 12 months ago.

Interestingly, the company has suggested that a significant shortfall in new build housing in the UK and an increase in demand should underpin current prices and indeed help to build momentum for a longer-term recovery in the sector. Taylor Wimpy also suggested that while the ongoing spending review by the UK government will probably impact the sector at some stage in the future, budget cuts so far have not had a major impact on the sector. However, it is obvious that if the UK economy does take a downturn because of budget cuts then this will inevitably impact upon the UK property sector and place pressure on property prices.

On a number of occasions over the last 12 months we have seen the property sector show signs of life only to be cut off in its prime by external factors.

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