Housebuilder’s sales fall as it says Bank of England stance has made homes less affordable
One of Britain’s biggest housebuilders, Taylor Wimpey, has warned that the Bank of England’s rate rises to tame high inflation have weakened the housing market and made homes less affordable after a sales slump.
Revenue fell 21% to £1.6bn in the six months to 2 July, dragging pre-tax profit down 29% to £237.7m. Its average selling price rose 6.7% to £320,000.
