Persimmon positive as sales pick up
House sales during the first half of 2009 are tracking ahead of those recorded the previous year, according to Persimmon.
The builder has released a trading statement ahead of its interim results, saying sales are up on 2008. ‘More recently, both volume and revenues have shown increasing improvement on the comparative weeks of the previous year,’ it states.
The group has forward sales for the second half of 2009 valued at £700 million, compared with £650 million at the same time last year, and expects the trend of improving market conditions to continue.
It reports that the rate at which house prices are falling has declined in the first six months of 2009, and is stabilising in some areas.
The company also says it does not expect to have to make any further write downs in the value of its landbank, which stands at 64,500 plots. Last year it reduced the value of its land by £652.3 million, contributing to a £780 million loss.