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Housebuilder Taylor Wimpey sees operating margin up but market cooling

Reuters - UK Focus

LONDON, Nov 11 (Reuters) - Britain's second biggest housebuilder by volume Taylor Wimpey (LSE: TW.L - news) said its operating margin would rise for the year but became the latest builder to indicate that the red-hot housing market was beginning to cool.

The firm, which built 11,696 homes last year, said on Tuesday it would deliver an increase in operating margin of 400 basis points, compared to guidance of a 300 basis points rise in July.

However, it said the housing market was steadying as sales rates from June 30 until the present day fell 5 percent on 2013 at 0.60 sales per outlet. (Reporting By Costas Pitas; Editing by Neil Maidment)