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Confidence returns following Brexit wobble, says Persimmon
One of the UK’s largest house builders says confidence has returned to the sales market after “modest” jitters following the EU referendum in June.
Persimmon released its half-year results this morning, reporting a 29% increase in pre-tax profit to £352.3m in the six months to the end of June this year.
The UK’s second-largest builder said while news of the referendum created uncertainty, the news was “quickly digested by our customers”, with 20% more visits to sites than the same period last year.
“After a modest increase in the week following the referendum result, cancellations have returned to normal levels and are currently running slightly lower than the same period last year,” it said.
It said since 1 July its private sales rate has been 17% in front of the same period last year, with its current order book 2% stronger than last year at £1.75bn.
Overall, its results for the six months to 30 June showed revenue up 12% to £1.49bn, with 7,238 homes sold in the year up from 6,855 the year before.
The average selling price rose 6% to £205,762 with 7,108 plots of land secured bringing its consented land bank up to 93,519 plots.
The statement added: “We plan to increase our build activity and productivity to continue the sustainable growth of the business to reach optimal scale in each of our regional markets.”
