Taylor Wimpey predicts surge in house prices - Business - Evening Standard
       

Taylor Wimpey predicts surge in house prices

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03 March 2010

Housebuilder Taylor Wimpey today predicted a property price surge this year, claiming greater mortgage availability will lift demand in a market hit by a recession-fuelled shortage of new homes.

Britain's second-biggest housebuilder admitted it fell deeper into the red in 2009, posting a pre-tax loss of £96.1 million, after racking up losses of £74.7 million a year earlier.

Taylor Wimpey said: "The structural undersupply of new housing in the UK has been exacerbated by the downturn.

"When mortgage availability increases, we'll see an even greater imbalance between demand and supply, creating the potential for a significant recovery in house prices in the future."

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