Taylor Wimpey, a FTSE 250 housebuilder, has seen a recovery in sales in a trading statement released today, following a 'lull' in the period of the UK's General Election.
The 'private sales' rate for the year has been 0.58 sales per site per week, whilst year-on-year remains 'broadly flat'.
Meanwhile, ongoing political uncertainty and the fragile economy has led to caution:
"In the short term, however, with ongoing political and economic uncertainty, we continue to run the business on a cautious basis, with selective land investment and an ongoing focus on costs and cash," said Taylor Wimpey in a statement.
Taylor Wimpey's comments are 'in-line' with Berkeley Homes who reported and Friday and shares are rated 'buy' on an average of analysts that we surveyed.
William Jones, housebuilder analyst at Royal Bank of Scotland, commented:
"Taylor Wimpey have released a brief 1H10 update which we view as reasonably reassuring. In the UK, the group not "encouraging stability intrading....this should ally concerns that the market has dropped off.
"Net debt is expected at c£650m at 1H10, versus £751m at FY09." he added, "The recovery at TW is likely to be a slow one."