Housing market resilient, says Taylor Wimpey

The UK housing market remains resilient, housebuilder Taylor Wimpey said as it reported that trading is in line with expectations. Taylor Wimpey said it expects the UK market to remain relatively flat for the rest of the year, echoing comments made earlier in the day by fellow housebuilder Persimmon."Market conditions in the UK remain resilient despite the ongoing uncertainty in the wider economy and the restricted level of mortgage lending," the company said.Trading in Taylor Wimpey's North American operations, which the company is selling, has been in line with expectations, while in Spain market conditions remain "challenging."The sale of the North American business should put the firm in a strong position to add new sites, the company said. "We remain on track to achieve our target of double-digit operating margins in the UK in 2012, subject to continuing stable market conditions," it said.Persimmon said this morning that underlying prices remain stable but that it should lift average selling prices this year as it shifts its mix towards more expensive homes.---RG