Housebuilder Taylor Wimpey revealed a jump in underlying UK profits today, but racked up an overall loss thanks to hefty write downs in its overseas markets.

Housebuilder Taylor Wimpey today said it expected “subdued” conditions in the British property market to continue into the New Year.

British housebuilder George Wimpey soothed nerves over the impact of higher interest rates today as it unveiled a 29% rise in half-year profits to £158.5m (€239m).