Taylor Wimpey Share Discussion Threads

[spennysimmo] 21/4/2011 13:35

Housebuilders are now in the hands of the wider economy. A serious amount of restructuring has taken place over the last year or two and the industry has stabalised. If we have seen the bottom and the economy continues its recovery and mortgage availability becomes more accessible to first time buyers who have the affordability then now is without any shadow of a doubt the time to go long on housebuilders and sit tight.

If however there are any major political or economic disasters over the next couple of years then housebuilders won't be the only sector we need to worry about!

This is the gamble we all take.

[fewdollarsmore] 21/4/2011 13:24

Shaw - what sort of serious trouble no debt and enough land for the next 3-4 years increasing margins?! unless the housing market drops off a cliff then I cannot see it myself but may have missed something....

[shaws37] 21/4/2011 13:09

I've been following the VOG thread on LSE board, i see one poster there reckons TW will be in serious trouble by year end. Anyone agree ??

(post at 12:39 today)

[spennysimmo] 21/4/2011 11:12

Stable, solid, steady eddie report.

[kfp] 21/4/2011 11:02

Apologies to SR

21 April 2011

21 April 2011

Taylor Wimpey plc

Interim Management Statement

Taylor Wimpey plc is holding its Annual General Meeting at 11:00am today in London, where the following comments will be made regarding current trading, financial performance and the outlook for the financial year. In line with the requirements of the UK Listing Authority's Disclosure and Transparency Rules, this Interim Management Statement covers the period from 1 January 2011 to the date of this announcement.

The Group as a whole is performing in line with our expectations. We remain focused on delivering margin improvement from the existing land portfolio in the UK and adding new sites where good opportunities are identified.

UK Housing

Market conditions in the UK remain resilient despite the ongoing uncertainty in the wider economy and the restricted level of mortgage lending. We are working with mortgage lenders to identify innovative ways of increasing mortgage supply and we have made good progress in signing up further lenders to our 'Take5' insurance-backed 95% mortgage product, which we launched in February.

We are currently operating from just over 300 outlets, compared to 290 this time last year, and have seen a continuation of the encouraging trends in visitor levels, sales rates, cancellation rates and selling prices reported at our full year results.

We remain focused on maximising the value achieved from each home completion and we have achieved further improvement in the margin on sales in our order book. The current order book stands at 5,681 homes (31/12/2010: 4,684 homes).

We maintain our consistent, disciplined approach to land acquisition and have approved the purchase of 2,937 new plots on 23 new sites since the start of 2011. We are engaging with the government and with local authorities to deliver an implementable planning system that is capable of delivering a higher level of new homes in the longer term, whilst recognising the challenges of transition. We are also realigning our business to ensure that it is well positioned to benefit from the opportunities that the proposed new planning system will provide.

North America Housing

As announced following our General Meeting on 18 April 2011, our shareholders have approved the disposal of our North American business. This disposal remains conditional on the receipt of North American government and regulatory approvals together with the satisfaction of customary conditions. We continue to work with the buyers in order to achieve completion which we anticipate will take place by the end of the second quarter of 2011.

Current trading in our North American operations has seen a continuation of the trends highlighted in our full year results announcement and the business is trading in line with our expectations.

Spain Housing

Market conditions remain challenging in Spain with restricted mortgage lending and the strength of the Euro against Sterling, although we have been encouraged by a modest improvement in trading since the start of the year.

Group financial position

Net debt at 31 March was GBP817 million, reflecting an investment in land, a reduction in land creditors and an increased investment in work in progress in line with the more usual seasonal trading patterns in the UK. We expect this to reduce significantly by the half year following the receipt of the proceeds of the disposal of our North American business and scheduled home completions in the UK.

Board changes

With effect from today, as previously announced, Kate Barker CBE will join the Board as an Independent Non-Executive Director and Andrew Dougal and Katherine Innes Ker will stand down as Independent Non-Executive Directors.

Outlook

We expect a relatively flat market in the UK over the remainder of 2011. We expect to make further progress in delivering value from our existing land portfolio and the completion of the disposal of our North American business will put us in a strong position to add new sites where attractive opportunities are identified. We remain on track to achieve our target of double-digit operating margins in the UK in 2012, subject to continuing stable market conditions.

-ends-

[127tolmers] 21/4/2011 10:19

Mortgage lending soared by a fifth during March
20 Apr 2011 - 16:39

Mortgage lending soared by 21% during March as both buyers and people remortgaging returned to the market.

A total of £11.3 billion was advanced during the month, the highest level since November, but still slightly down on the £11.5 billion that was lent in March last year, the Council of Mortgage Lenders said.

The group attributed the increase to a rise in activity in the housing market, as well as strong demand from existing homeowners who were remortgaging to a new deal.

It said loan approvals for remortgaging were at their highest level for more than two years during February, and this fed into higher lending levels in March.

Demand is expected to remain strong as the prospect of interest rate hikes prompts people to remortgage off their lenders' standard variable rates.

Council of Mortgage Lenders (CML) chief economist Bob Pannell said: "The housing market has emerged hesitantly from hibernation. Lenders expect mortgage credit availability to improve this quarter, and this should help to underpin house purchase activity, albeit at pretty low levels.

"Remortgage demand, meanwhile, continues to firm, presumably linked to expectations of higher base rates. Stronger remortgage activity looks set to continue propping up overall lending."

But despite the rebound in lending during March, the slow start to the year meant that mortgage advances for the first quarter totalled just £30.1 billion, 11% less than during the final quarter of 2010. The group said household finances remain under pressure and many people have delayed moving.

The figures are in line with data released by the National Association of Estate Agents, which showed a sharp jump in the number of potential buyers registering with estate agents during March, pointing to an increase in activity in the market.

But agents warned that many homeowners were still being over-optimistic and pricing their properties too high, while lending conditions remain tight.

[jibba_jabba] 21/4/2011 08:37

0930 Prelim Mortgage Approvals.

[shaws37] 21/4/2011 08:25

i see 50p AND dead people

[fewdollarsmore] 21/4/2011 08:24

I see dead people!!

[shaws37] 20/4/2011 21:44

Market closed on the 22nd & 25th April. Also 29th April & 2nd of May

Hopefully tomorrow will be lift off day.

[wendsworth] 20/4/2011 15:11

Choffter : Intuition!

Last week's pullback is unwarranted .

TW is without doubt a recovery play and the Board will be seeking to put a positive hue on the forward look.

Future restoration of the dividend is a probability .

I'm a holder and long on this stock .

[jibba_jabba] 20/4/2011 13:17

1500 Existing Home Sales

Percy reports tomoz..

[choffter] 20/4/2011 13:11

Wendsworth - What are you basing your forecast of a potential 5% rise after the AGM tomorrow?

[wendsworth] 20/4/2011 11:11

kfp: Probably means that HSBC are a buyer of the stock!

Tomorrow's agm could well put 5% on the share price . 'Cup and Handle' here we come.

[shaws37] 20/4/2011 08:43

TW must still be seen as the ugly duckling, it will soon morph into an elegant Swan.

[jibba_jabba] 20/4/2011 08:35

Must still be loading up..

[kfp] 20/4/2011 08:33

HSBC upgrades all the builders ,,, except TW !

[spennysimmo] 19/4/2011 15:57

Lagging behind other HB's today.

[shaws37] 19/4/2011 15:09

Thanks mate, appreciated.

[shaws37] 19/4/2011 15:02

jj, sorry but what was the outcome of Building Permits & Housing Starts at 1330hrs?

[shaws37] 19/4/2011 12:27

lol, i know. My other secret is when we hit 65p, i hoping we will see 85p. :)

[spennysimmo] 19/4/2011 12:16

There goes your secret :-)