Housing market shrugs off vote

ONE of Britain’s biggest housebuilders shrugged off the snap general election as it posted a bullish trading update.

Persimmon yesterday said its half-year to June 30 had seen revenues grow 12pc to £1.7bn, defying expectations of a slowdown due to political uncertainty.

It also said the number of homes sold had gone up and average selling prices were higher than in 2016. The company told investors customer demand was good and said the housing market had taken June’s election ‘in its stride’.

It added: ‘The group has strong momentum moving into the second half of the year.’

Shares in Persimmon yesterday rose by 2.4pc, or 54p, to 2345p.