In a trading statement for the year ending 31 December 2024, Taylor Wimpey completed 9,972 homes over that period. This is down from the 10,356 homes built in 2023.

Despite this, Taylor Wimpey ended 2024 with an order book valued at £1.9bn and more than the £1.7bn it had booked in 2023.

The firm is also facing the fact its houses are selling for less in 2024. In the trading statement, Taylor wimpey revealed an overall average selling price of £319,000 which was down from the average of £324,000 in 2023.

From a development perspective the housebuilder’s short-term landbank is broadly the same as the previous year - at 79,000 plots - with a strategic land pipeline of around 136,000 potential plots. This is down from the 142,000 potential plots held in 2023.

Taylor Wimpey finished the year with a net cash position of £565m, down from the £678m held on its books in 2023.

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In commentary accompanying the results, the housebuilder flagged an “encouraging level of enquiries” to the start of 2025 but warned around the wider economic picture.

This commentary added: “Whilst price negotiations for 2025 are ongoing, we anticipate increased build cost pressure as a result of the changed economic backdrop, including as suppliers seek to factor in the impacts of the recent UK Budget.”

Despite these dips in housing delivery and cash position, CEO Jennie Daly said the firm remained confident in its long term strategy.

“While market conditions are uncertain, and we continue to monitor the impact of mortgage costs on affordability, we enter 2025 with a strong order book and land position, underpinned by a robust balance sheet and highly experienced teams, which positions us well to deliver volume growth in 2025,” said Jennie.

“We remain confident in the attractive medium and long term fundamentals of the sector and are well placed to play our part in addressing the significant undersupply of UK housing."