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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/taylor-wimpey-mulling-us-disposal.jpg"><img class="alignnone size-full" title="Taylor Wimpey confirmed it is mulling bids for its US arm" src="http://londonglossy.com/wp-content/uploads/2011/01/min-taylor-wimpey-mulling-us-disposal.jpg" alt="Taylor Wimpey confirmed it is mulling bids for its US arm"/></a></p>
<p>Housebuilder Taylor Wimpey confirmed it has received takeover approaches for its US business as it seeks to offload the division and concentrate on the UK.</p>
<p>Taylor said it was in the early stages of considering interest for the North American subsidiary, called Taylor Morrison.</p>
<p>The group &#8211; the UK&#8217;s second largest housebuilder &#8211; wants to concentrate on its domestic UK market, where it trades as Bryant Homes, Laing Homes and George Wimpey.</p>
<p>The news on the US business comes as Taylor said UK selling prices remained stable throughout the second half of 2010, leaving the average achieved across the year at £171,000 &#8211; up 7% on 2009.</p>
<p>But the number of completions fell 2% and the group said constrained mortgage lending would continue to hold the property market back in 2011.</p>
<p>Taylor said recent performance in the US division was expected to help pre-tax profits beat market forecasts &#8211; its second upgrade in as many months.</p>
<p>The group, which builds houses in the UK, US and Spain and Gibraltar, has also driven more cost savings than it expected.</p>
<p>In the UK, it slashed build costs by 10% in the first half of the year and is now expecting to beat targets for 2011 after driving further savings in the second half.</p>
<p>The US and Canadian business has also seen greater stability as the impact of the removal of buyer tax incentives starts to ease, with prices up 7% in 2010 despite remaining broadly flat in the second half. However, Spain remains a difficult market after the financial crisis hit the country hard.</p>
<p>Taylor is reviewing its strategy for the business and expects to &#8220;take a more aggressive approach to driving sales rates&#8221;, which it warned may lead to further write-downs. Shares in Taylor rose 4% after the US news and profit cheer.</p>
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