Annual Report and Accounts 2009

Business Overview

UK Housing

Taylor Wimpey is one of the largest homebuilders in the UK with national coverage from 23 regional offices and
TW City specialist projects.

UK Housing     UK Housing     UK Housing


We build a wide range of homes in the UK, from one bed apartments to five bedroom houses, with prices ranging from below £100,000 up to £500,000.

We also build affordable housing across the UK, which represented 17% of our 2009 completions.

We operate as Taylor Wimpey in the UK and are phasing out the legacy Bryant Homes and George Wimpey brands.

Taylor Wimpey    Bryant Homes    George Wimpey

Key highlights

Completions Average selling price Average outlets Proportion of Group revenue
10,186 £160k 343 65.5%

Market conditions

Following a sharp decline commencing in the second quarter of 2008, trading conditions in the UK saw greater stability over the course of 2009.

National house price indices show price increases for 2009, affordability has improved and industry volumes are increasing gradually from very low levels.

Although mortgage availability remains restricted, there have been signs of easing over recent months.

Short term priorities

  • Deliver competitive offers in each local market
  • Reduce build costs through merger savings, lower labour and materials costs and value engineering of sites
  • Replan existing sites with detailed planning consents to change product mix and reduce planning obligations
  • Add new plots to the landbank on attractive terms

For more information see UK Housing

North America Housing

Taylor Morrison is a top 10 homebuilder in the United States and also operates in Ontario, Canada.

North America Housing    North America Housing    North America Housing


Our homes in North America range from high-rise apartments in Toronto to full service country club homes in Florida and from entry level to luxury homes.

Our prices range from below £75,000 to above £500,000. Average selling prices vary by geography from £115,000 in Arizona to £228,000 in California.

In the United States we sell homes under the Taylor Morrison brand and our business in Canada trades under the Monarch brand.

Taylor Morrison    Monarch

Key highlights

Completions Average selling price Average outlets Proportion of Group revenue
4,755 £171k 172 31.8%

Market conditions

After a weak first quarter of 2009, the US housing market showed continued stability.

The sharp price declines seen since late 2005 have resulted in record levels of affordability in our US markets and the number of months of supply of both new and existing homes continues to reduce.

Although foreclosures remain a potential issue, they have not had an incremental negative impact in recent months and prices have remained stable. The US Government has recently extended its first time homebuyer tax credit to the end of April 2010.

The more robust economic conditions in Canada are persisting and this is reflected in a stronger housing market.

Short term priorities

  • Drive sensible sales rates for each site
  • Retain build cost and overhead savings
  • Maintain reduced level of investment in land and work in progress spend where appropriate
  • Grow market share in our key markets

For more information see North America Housing

Spain and Gibraltar

Taylor Wimpey operates in three regions in Spain and also in Gibraltar.


Our business in Spain is primarily focused on developing sites in popular locations.

We announced during 2008 that we are planning to exit our Gibraltar business, which operates in the luxury apartment market.

We have introduced the Taylor Wimpey brand in our operations in Spain.

Taylor Wimpey    Taylor Woodrow

Key highlights

Completions Average selling price Average outlets
225 £260k 18

For more information see Spain and Gibraltar Our Web site contains a wide variety of
additional information about the Group.