Wimpey is upbeat as prices soar

THE average price of a new Wimpey home soared 18% to £139,500 in the first six months of the year, contributing to a growing sense of confidence at the housebuilder. UK completions were up 27% at 5,293 while the order book was 27% higher in volume and 50% higher in value than the year before.

George Wimpey unveiled the figures ahead of a full report on the first half of the year in September and said the outlook remains generally healthy across Britain.

The company said it had limited exposure to the central London market and the buy-to-let market, and visitor numbers remained strong.

Wimpey said there was evidence that the house price inflation of earlier in the year was moderating to more sustainable levels. However, new research from Nationwide prompted the mortgage lender to raise its annual forecast to 18% from 10% in April.