UK housebuilders' profit jumps shore confidence in market recovery

LONDON, July 4 (Reuters) - UK housebuilders Taylor Wimpey, Galliford Try and Redrow said theywould meet or beat full-year expectations, shoring up confidencethat Britain's housing market is firmly recovering.

Taylor Wimpey said on Thursday it is likely to meet its fullyear expectations after improved buyer sentiment helped it totrade at the upper end of forecasts in the first half.

It also predicted a rise in its UK operating profit marginto over 13 percent from 11.2 percent in the same period lastyear.

In separate statements, Galliford Try said it would postrecord full year profits, in line with current market consensus,while Redrow posted a 26 percent rise in full year revenue andsaid profit would top forecasts.

"If ever we need proof that the housing market isrecovering, we have it now," Jefferies analyst Anthony Codlingsaid of Taylor Wimpey results.

British housebuilders - including Persimmon andBarratt Developments - have seen their share prices andsales surge in recent months after the government announcedplans to support struggling housebuyers with billion of poundsin loans.

Banks reported a sharp rise in mortgage lending in thesecond quarter.

Taylor Wimpey said it completed 5,192 homes over the sixmonths to end-June, with the average selling price rising to187,000 pounds from 176,000 pounds in the prior year.

"During the first half of 2013, we have been operating in aUK housing market that has shown measurable improvement for thefirst time since the downturn of 2007/2008," Chief ExecutivePete Redfern said.