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Housing market took election ‘in its stride’: Persimmon

  • 05/07/2017
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Housing market took election ‘in its stride’: Persimmon
The housing market was unfazed by the effects of the snap general election according to housebuilder Persimmon, which reported significant increases in completions and revenues for the first half of the year.

The firm said that it had completed 7,794 new homes in the period, up by 8% from the year before. Selling prices jumped from an average of £205,762 to £213,000, while revenues also increased by 12% to £1.7bn.

Persimmon said that it expected its “excellent” first-half performance to continue throughout the rest of the year, noting that strong levels of demand showed that the housing market had taken the snap election “in its stride”.

Its statement added: “Consumer confidence remains resilient and compelling mortgage rates continue to offer good support to new home buyers.”

Last month, fellow housebuilder Crest Nicholson said the general election had added uncertainty to the market, but predicted the new build market would remain “robust”.

Persimmon opened 95 new sales outlets during the period and reported “strong momentum” going into the second half of the year, with total forward sales worth £1.6bn, 17% higher than the £1.4bn figure reported at this stage last year.

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