Persimmon sees house sales rise
HOUSEBUILDER Persimmon said total house sales and completions rose in the first half, despite slipping in recent months on election and budget uncertainty.
The company, the UK’s largest housebuilder by market value, said legal completions in the first half increased by 16 per cent to 4,657 homes year-on-year, with the average selling price rising by eight per cent to £168,500.
Persimmon said in a statement: “Whilst sales prices and margins have continued to increase from the beginning of the year, since early May we have experienced the normal seasonal slow down in private sale reservations.”
The group said sales had been dented due to uncertainty prior to the government’s emergency budget on 22 June but had been in line with its expectations since then.
Rival builder Taylor Wimpey said last week that sales had picked up since a drop-off around the election in May.
However, house price growth has tailed off in recent months. British house prices rose by just 0.1 per cent in June, according to Nationwide Building Society, whilst lender Halifax reported a drop in prices in May.
Consumer confidence has also dipped, falling for the fourth month in a row in June over concerns about the fragility of the economy and the potential for a double dip recession.
Persimmon said total sales so far this year stand at £1.5bn, up from £1.3bn last year.