Housebuilder Taylor Wimpey starts 2015 with record £1.4bn order book

Taylor Wimpey, one of the UK's largest residential developers, said it started 2015 with a bulging order book of £1.4bn ($2.1bn).

The record order book, which represents 6,601 homes, is up 12% on a year ago.

"As we enter 2015, we are encouraged by the more balanced market conditions, with a lower rate of price growth, which should create a healthy and more sustainable housing market," said chief executive Pete Redfern.

The housebuilder said it had completed 12,454 homes in 2014, which was up 6% on 2013. The average selling price was up 11% to £234,000 ($354,931). The firm also said it had improved its operating margin by slightly more than 400 basis points, Reuters reported.

Taylor Wimpey welcomed Chancellor George Osborne's reform of stamp duty in the last Autumn Statement which the company said would mean a more progressive system.

The company was upbeat in the face of a UK housing slowdown and the uncertainly of the coming election, stating that sensible mortgage regulation and a reduced risk of UK interest rate increases means the outlook for 2015 remains positive.