Persimmon encouraged by improved sales

| July 5, 2011
”Persimmon

Persimmon, which is the UK’s largest housebuilder by market value, has today said it is encouraged by improved sales and a “modest improvement” in lending.

It said it expects to market to pick up over the latter half of 2011 and expects prices to rise over the year.

The company said it completed 4,439 homes in the first half of the year against 4,657 in the same period a year earlier.

An improvement in sales means volumes are expected to increase in the second half, the company said.

“We anticipate that our average selling price for the full year will increase as we legally complete more detached house sales,” it said.

Other housebuilders have reported a better trading environment since January but they remain cautious as construction hovers at low levels and first-time buyers are still struggling to secure a mortgage.

Finally, the company said its order book is higher than this time last year with forward sales at £725 million.

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