The FTSE 100 housebuilder now expects to complete around 10,500 homes in the UK this year, excluding joint ventures. That sits at the bottom of, or below, the range it previously guided to, depending on which earlier forecast is used. It also expects adjusted operating profit to land near the bottom of analysts’ estimates, which run from £262m to £299m.

A company spokesperson told City AM that Taylor Wimpey is consulting on changes to local team structures that “may result in some limited redundancies”. The process would affect a small share of its roughly 4,500 staff. On-site workers and apprentices are not affected, and the changes will not be concentrated in any one region.

In a trading update covering the period to 8 November, chief executive Jennie Daly blamed higher mortgage rates and living costs for a “more subdued” autumn. She said these were eroding customers’ ability to afford a home.

Jennie Daly said: “The Autumn selling season has been more subdued, as higher mortgage rates and living costs continue to reduce customer affordability. We now expect 2026 UK completions excluding joint ventures to be around 10,500 homes and Group adjusted operating profit to be around the bottom end of the consensus range.

“We remain focused on supporting customers, operating efficiently, maintaining our strong balance sheet and progressing our strategy, and are on track to open more outlets this year, with progress reflecting our early proactive approach to planning.

“We welcome the Government’s Your First Home Scheme to support getting people onto the property ladder. Our strong first time buyer proposition and growing outlet base position us well as the scheme develops.”

Between 29 June and 8 November, the company’s net private sales rate was 0.60 homes per outlet per week, down from 0.63 a year earlier. The cancellation rate was unchanged at 17%. Stripping out bulk deals, the rate fell more sharply, to 0.54 from 0.61.

Across the year to date, the net private sales rate was 0.69, compared with 0.72 in 2025. The order book stood at 6,839 homes worth about £1.98bn, down from 7,253 homes worth about £2.12bn a year earlier.

Taylor Wimpey said prices had softened slightly further and that buyer incentives remain elevated. It still expects build cost inflation of 3–4% for the full year. That leaves the builder selling fewer homes at softer prices while its costs keep rising.

The company is pulling back on land. Its short-term landbank fell to about 73,000 plots by the end of October, from about 75,000 in late June. It has approved roughly 5,000 plots this year, in line with 2025, concentrating on smaller sites.

It said the reduction reflects a deliberate focus on capital efficiency. Its strategic land pipeline stands at about 131,000 potential plots. Conversions from that pipeline have risen to around 5,000 plots this year, from about 2,000 in 2025.

Taylor Wimpey is operating from 225 outlets, up about 9% on a year ago, and has opened 59 new ones so far this year. It says it is on track to open more than in 2025.

Shares fell by as much as 5% on the news, wiping up to £130m off the company’s value, before recovering to trade about 3% lower. The company has bought back about £31.5m of its planned £41.9m share buyback and still expects to complete it by 31 December. It continues to forecast year-end net cash of about £250m.