Taylor Wimpey cuts housing targets in ‘subdued’ market
- Taylor Wimpey expects to build 10,500 homes this year.
- Profit is forecast near the bottom of analysts’ range.
- Higher rates and living costs are weakening demand.
Taylor Wimpey has cut its housing target and expects operating profit to be near the bottom of analysts’ forecast range, citing weaker demand in a subdued property market. The update highlights pressure on UK housebuilders as higher mortgage rates and living costs make homes less affordable, while rising…