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Persimmon reports housing associations are ordering more homes
One of the UK’s largest house builders has reported a rise in the number of homes being ordered for delivery from housing associations
Persimmon issued a trading update for 2018 so far, in which it said it had a forward order book of 5,330 homes for delivery to housing associations this year, 15% more than the 4,616 homes that had been ordered at this point last year.
New homes being sold forward into private ownership were also up, though only slightly, from 8,928 to 9,048. These had an average selling price of £236,500, up from £229,500.
The builder said it has already taken £2.76bn from forward sales revenue, 8% up on the £2.56bn it had taken this time last year.
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In the update, it also stated that the development of offsite manufacturing capabilities “will play an increasingly important role in supporting the expansion of our new home construction volumes”.
Last year, Persimmon opened a brick manufacturing factory at its hub in Doncaster and it plans, during 2018, to open a roof tile manufacturing facility.
The builder’s forward sales have been increasing for some time, and in its annual results for 2017, it announced that its pre-tax profits had risen from £782.8m to £977.1m after a dramatic rise in revenue.
