Cheaper mortgage deals are keeping buyers interested despite Brexit uncertainty, housebuilder Taylor Wimpey said on Wednesday.
Despite more caution in London and the South-East, sales volumes rose 3% to 14,947 and forward orders are up 9% to £1.78 billion. The firm said that was a strong order book.
Although average selling prices were flat at £264,000, the update pushed shares up 5.35p, or 4%, to 145.75p.
Chief executive Pete Redfern said the extension of the Help to Buy support scheme had helped to underpin sentiment alongside lenders cutting mortgage rates. Barclays was the latest to cut the cost of fixed-rate deals this week.
“People look at these big political situations and at first they’re nervous but after a while, they tend to want to get on with life,” Redfern said. “ The biggest concern for us would have been mortgage rates rising, but the thing that has surprised us in the last few months is rates have come down.”
