Two of Britain’s largest homebuilders are reducing the number of homes they build in 2023 by a third as the “weaker economic backdrop” hits sales of their houses.
Taylor Wimpey and Persimmon Homes have both begun cutting the number of homes they will build.
Taylor Wimpey is reducing their 2023 output by 36% from last year’s total of 14,154 down to between 9,000-10,500 homes.
Persimmon is cutting last year’s production to 8,000-9,000 homes, a reduction of 46%. Persimmon is the UK’s most profitable housebuilder.
Taylor Wimpey is the UK’s second-largest housebuilder by revenue. The firm also revealed it had closed its Oxfordshire business as part of a restructuring and redundancy process announced at the start of the year in response to the downturn, which is designed to save the business almost $24,000,000 per year.
Taylor Wimpey is also investing in a new 240,000 sq ft timber frame housebuilding facility in Kingston Park, Peterborough, as part of its drive to deliver low-carbon homes.
Nick Wright, manufacturing and supply chain director of Taylor Wimpey, said: “Timber frame is a key part of Taylor Wimpey’s long-term strategy to deliver low carbon, energy-efficient homes and communities, whilst also providing operational efficiencies and security of supply.”
The firm said the facility will be up and running by the spring, with the initial focus of the factory on external panels, internal partitions, and floors.
Gary Fleisher is the Editor in Chief of Modular Home Source and Offsite Builder magazine. Email at [email protected]
