<p>Taylor Wimpey and Gleeson are the latest housebuilders to report on the now challenging market conditions, affecting sales.</p> <p>Issuing a trading update ahead of announcing its full results for the year ending December 31 2022, Taylor Wimpey said it expected its overall volumes for 2023 to reduce after its net private reservation rate fell to 0.48 homes per outlet per week in the second half, compared to the 0.85 of H2 2021. Its net private reservation rate for 2022 was 0.68 homes per outlet per week (2021: 0.91).</p> <p>With ongoing market uncertainty keeping its sales “significantly below” levels seen before the rise in mortgage rates, the volume housebuilder’s private order book is now lower than in recent years. </p> <p>In response to changed conditions, the business is undertaking a consultation on a “series of proposed changes” to create annualised savings of around £20 million. </p> <p>It said that if these changes went ahead, they would reduce overheads to “reflect market conditions”. But they would not affect its existing market coverage, volume delivery from its landbank “nor our ability to deliver high quality product and service to our customers”. </p> <p>The firm also highlighted its concerns over measures within the revised …