Help to Buy scheme boosts Persimmon revenues

Suzie Neuwirth

HOUSEBUILDER Persimmon today announced a 12 per cent increase in first-half revenues to £900m, boosted by the UK Government’s Help to Buy scheme which encouraged homebuyers.

The firm completed 5,022 new homes over the period, up seven per cent year-on-year.

The government scheme – which provides first time buyers with up to 20 per cent of the property’s value – brought “additional momentum to the traditionally stronger spring sales season,” said Persimmon.

“We are encouraged by the gradual increase in the number of major mortgage lenders supporting this government initiative and anticipate that all the major lenders will be providing Help to Buy related mortgage products over the coming weeks,” said the company.

“This will present a wider choice to customers and will help to support further increases in new home sales.”