TAYLOR Wimpey has revealed its operation in Scotland received a post-referendum boost as it welcomed the return of more stable conditions to the UK housing market.
The housebuilder, which delivered more than 1000 new homes to the Scottish market last year, said buying activity picked up in the autumn after the result of the vote was known.
This came after it found the market in Scotland had quietened over the summer ahead of the poll.
Chief executive Pete Redfern also said Taylor Wimpey was also benefiting north of the Border ahead of the replacement of Stamp Duty with the new Scottish Land and Buildings Transaction Tax, which takes place in April.
Mr Redfern said: "We're very happy with our presence in the Scottish market. It's very much a long term market position for us over many decades.
"During 2014 things were a bit quieter over the summer for electoral reasons. There was a bit of a recovery from that as people who had perhaps put off a decision in the summer made the decision to buy in the autumn."
"I think the stamp duty changes, which were obviously announced earlier than similar changes in England, have given a boost to liquidity in the lower price point, which almost all of our customers slightly benefit from. We're not at the upper end of the market in Scotland."
Mr Redfern was commenting as Taylor Wimpey welcomed the recent dampening of house price growth in the second half of 2014, which it said had returned the market to healthier and more balanced conditions.
The company, which expects to lift operating margins by 400 basis points to 17.6 per cent when it announces its full-year results on March 3, also noted its satisfaction over the return of "sensible" mortgage regulation, as well as the likelihood interest rates will not rise the near term.
With those factors underpinned by "solid" consumer confidence and good mortgage affordability and availability, firm said it is starting in 2015 in an "excellent position" - in spite of global economic uncertainty.
Asked if the company had been concerned the market was in danger of over-heating, Mr Redfern said: "It's not that we were hugely concerned a year ago, but if the conditions in terms of price growth had continued in to this year and into next then we would have had come concerns. We still see a very positive market environment, good confidence among consumers and price growth."
He added: "I think we have added a fairly stable phase in the market at the moment, so people can look at a house and think it will probably be a little bit more if I buy it next year. But people are buying because they want to live there, not because they think it is going to be 10 per cent higher in a year's time and that's healthier. That's much more sustainable for us - it means we can invest with confidence in land and grow the business sensibly."
However, Mr Redfern highlighted that the market in Scotland may be distorted in the first quarter by issues around the Help to Buy scheme. While houses can be reserved by buyers who have successful applied to the scheme, those sales will not be completed until the next tranche of Help to Buy funding comes through in April.
"Aside from that the Scottish market is reasonably healthy and showing broadly similar directional characteristics to the English market," Mr Redfern said.
Taylor Wimpey said total home completions rose by six per cent to 12,454 in 2014, with the average selling price overall growing by 12 per cent to £213,000.
It noted that its order book stood at record levels at the start of the year, having increased in value by 12 per cent to £1.4 billion at December 31, excluding joint ventures. The growth was largely driven by the strength of private reservations, the company said.
Shares in Taylor Wimpey closed down 1.5p at 124.2p.
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