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House builder Persimmon achieves 16% rise in sales

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by Gill Montia

House builder, Persimmon, has reported a rise in sales during the six months to the end of June 2010, with legal completions increasing by over 16% compared with a year earlier, to 4,657.

Since early May, private sales have slowed down, partly in line with seasonal trends and partly due to uncertainty prior to the emergency Budget.

However, in the period since the Budget, sales have been in line with expectations and cancellations have remained low, at around 16%.

The group’s average selling price has increased 8% year-on-year, to £168,500, and 85% of the company’s existing plots have been designated for two and three-storey housing, for which demand is strongest.

The developer says it is continuing to invest in new site openings in readiness for a stronger housing market in the autumn, but will remain cautious until mortgage availability improves further.

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News posted: July 6, 2010

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