UPDATE 1-Taylor Wimpey says trading improves

* Says total order book value 1 bln stg vs 1.06 bln in 2008

* Average selling price on private completions rises 9 pct

(adds details)

LONDON, Nov 4 (Reuters) - British housebuilder Taylor Wimpey (TW.L: Quote, Profile, Research) said on Wednesday market conditions have improved as it reported lower debt and a rise in house prices.

Britain's second largest housebuilder by market value said it is fully sold for 2009 after reporting an encouraging trading performance since July.

In October, British house prices showed their first annual rise in 19 months according to mortgage lender Nationwide. [ID:nLAG005874]

The company, said the value of its current order book stands at 1.00 billion pounds compared with 1.06 billion last year.

Net debt is down from 1.87 billion pounds last year to 860 million, with the company now targeting end net debt of below 800 million.

Taylor Wimpey said the average selling price for private homes is 9 percent higher than completions in the first half.

(Reporting by Lorraine Turner)