Persimmon’s orders boom

SALES at housebuilder Persimmon rose 5pc to £1.8bn in the first half of 2018 as subsidies for firsttime buyers once again boosted its bottom line.

The developer has been given an enormous lift by the Government’s Help To Buy scheme, which gives first-time buyers an interest-free loan worth up to 40pc of the value of their home.

Shares in Persimmon have more than trebled since the scheme was introduced five years ago, triggering controversial payouts for chief executive Jeff Fairburn, who pocketed £47.1m last year alone.

The average price of Persimmon homes rose by 1.2pc to £215,800, and it has £1.7bn of orders on its books, up 5pc on a year earlier.