The firm is now looking to make an average operating margin of 20% over the three year period from 2015 to 2017.

Taylor Wimpey is also commited to returning cash to shareholders with a £200m-a-year target.

The revised targets will be revealed to analysts and investors later today at the firm’s Olympic Park site at Chobham Manor.

Taylor Wimpey said: “The UK housing market continues to perform strongly with sales rates and pricing at the upper end of our expectations.”