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Persimmon revenues dip as buyers wait for revamped Help to Buy scheme

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  • 13/01/2021
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Persimmon revenues dip as buyers wait for revamped Help to Buy scheme
Persimmon’s total group revenue for the year ending 31 December 2020 has amounted to £3.33bn, a slight decline on £3.65bn the year before.

 

Although sales in the second half of the year were 39 per cent higher annually, fewer active outlets affected the group’s transactions towards the end of 2020 

Persimmon’s trading update report also said constraints on stock availability and first-time buyers waiting for changes to the Help to Buy schemin December delayed completions. 

Amid these delays, the group’s forward sales at the end of the year reached £1.69bn, a 25 per cent growth on 2019’s £1.34bn. 

The average Persimmon property sold for £230,500 last year, a seven per cent year-on-year increase. In total, the group completed 13,575 transactions, down from 15,855 the year before. 

Dean Finch, group chief executive at Persimmon, said: Against the backdrop of the unprecedented challenges of 2020, Persimmon produced a robust performance for the year, as we continued to deliver the new homes the country needs.  

The group’s strong second half completions were supported by its advanced build coming into the year, an agile and effective response to the Covid-19 pandemic and resilient customer demand. 

He added: “Recent events have served to further demonstrate the continuing near-term uncertainties arising from the Covid-19 pandemic.  

“However, we believe that the longer-term fundamentals of the UK housing market remain resilient and I am confident Persimmon will continue to deliver superior long-term value for all of its stakeholders.” 

 

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