Taylor Wimpey sees prices go up

It has already achieved 99 per cent of targeted sales for the first half of the year and 74 per cent for the full-year as forward orders pick up.

Taylor said that total prices leapt by an estimated 9 per cent since the start of the year, although this was partly due to a change in the mix of property types sold, which accounted for around 5 per cent of the uplift with the remaining 4 per cent from underlying price rises.

It added that the market should weather economic and political headwinds. "We are encouraged by the ongoing signs of improvement across our main markets," said Taylor.

"Although economic and political risks remain in the UK, we believe that the underlying shortfall of new build housing and the strong levels of demand will continue to underpin the market."

Its comments came as lender Nationwide revealed a 1 per cent rise in house prices during April, leaving the average home costing 167,802 and taking annual price growth into double figures for the first time in nearly three years.