The FTSE 250 housebuilder used its Annual General Meeting to update investors on trading to 26 April, reporting a slight dip in sales rates, a smaller order book and early signs of pricing pressure, particularly in the South of England.

The group posted a net private sales rate of 0.74 per outlet per week, down from 0.77 in the same period of 2025. Excluding bulk deals, the rate slipped to 0.72, compared with 0.76 last year. Cancellation rates improved modestly to 14%.

Taylor Wimpey’s order book fell to £2.23 billion, representing 7,689 homes, down from £2.33bn and 8,153 homes a year earlier. The company said customer engagement remained “resilient”, but acknowledged that underlying price pressure had emerged, with average pricing in the order book around 1% lower year‑on‑year.

Affordability constraints in the South of England and the firm’s decision to wind down its Greater London apartment schemes were the main drivers of the decline.

The most significant shift in the update was the company’s warning that build cost inflation is now expected to be in the low‑ to mid‑single digits for 2026, up from earlier guidance in the low‑single digits.

Management said the conflict in the Middle East had pushed wholesale energy prices higher, with cost pressure and surcharges beginning to filter through the supply chain. Analysts noted that even a modest numerical increase could challenge Taylor Wimpey’s ability to meet its previously signalled £400 million operating profit target for the year.

Reflecting both market conditions and the strength of its existing land position, Taylor Wimpey has taken a “highly selective” approach to land acquisition in 2026. The company approved around 1,000 plots in the year to date, down from 1,700 in 2025.

Its short‑term landbank stands at around 76,000 plots, with a strategic pipeline of 133,000 potential plots. Planning progress remains strong, and the business expects to operate from more outlets in 2026 than in 2025, with an average of 219 outlets open so far this year.

Taylor Wimpey confirmed it intends to pay a final dividend of 2.95p per share on 15 May, in line with its updated distribution policy to return around 5% of net assets annually via ordinary dividends, with a further 2.5% returned through either dividends or share buybacks.

The company has so far purchased 39 million shares, worth £34.9m, out of its planned £52m buyback programme.

Chief executive Jennie Daly said the business remained focused on operational discipline, supporting customers and driving value from its landbank.

“Sales in the year to date have been steady,” she said. “We remain focused on delivering growth over the medium term and value for all our stakeholders.”