Persimmon Homes Green Shoots of Recovery


Persimmon Homes, Britain’s largest homebuilder, has reported today that it is doing better today than it was this time last year.

Sales for the next six months of 2009 are valued at £700 million, £50 million more that it was this time in 2008 even though house prices have fallen by 4% in the same period.

Additionally, Persimmon Homes is also saying that house prices are beginning to stabilise in some parts of the country and cancellation rates are below normal, another indicator of market confidence.

However, mortgage availability still continues to be an issue for Persimmon Homes and the property market in general.

Shares in homebuilders rose across the board as soon as the announcement was made.

{ 2 comments… read them below or add one }

JB July 8, 2009 at 9:09 am

This is probabl because of all the incentives. The Halifax has announced today that prices fell by 0.5% between June and May 2009, so there is still a lack of confidence in the market and mortgage availability is a problem.

Tony July 11, 2009 at 11:04 am

There have been numerous stories in the press about lack of mortgage availability since this was posted. You are absolutely right JB

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