Persimmon upbeat on sales and prices

| April 25, 2010 | 0 Comments

Housebuilder Persimmon has reported that weekly sales volumes have remained consistent since the end of 2009, despite uncertainty regarding the wider economic outlook and the forthcoming General Election.

In a trading update covering the period 1st January to 22nd April, the group revealed that the total value of sales (including legal completions) forged ahead by around 20%, compared with a year earlier, to £1.15 billion.

Prices remained firm, while sales volumes were approximately 11% ahead when compared with the same period of 2009, reflecting a rise in private sales.

The number of prospective purchasers visiting the group’s various sites held steady, producing a good rate of “conversion” to reservations, and cancellation rates stood at historically low levels.

The developer opened 50 new sites in the first quarter of 2010, increasing the number of sites operated to 375.

A further 40 sites are planned during the second quarter of the year and Persimmon says it is “carefully” selecting land opportunities for investment.

Tags: cancellation rates,

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