Taylor Wimpey shares fall as Iran war pushes up building costs

Taylor Wimpey shares fell by 4.7% due to rising building costs linked to the Iran war. The housebuilder's order book decreased by 6% year-on-year, with a total value of £2.2m. The company is closely monitoring macroeconomic conditions and anticipates building cost inflation in the low-to-mid single digits. Other firms, like Barratt Redrow and Berkeley, are also reducing land purchases, impacting the UK government's housing targets. Taylor Wimpey has seen a 32% decline in stock value over the past year, currently priced at 79p.