Housebuilders looking resilient

Housebuilding giants Persimmon and Bovis Homes have signalled robust conditions in the new-build market as they reported higher first-half sales and prices.

Persimmon praised “resilient” consumer confidence while Bovis said better-thanexpected sales would see a “significant step up” in firsthalf profits.

In its half-year trading update Persimmon posted a 5 per cent rise in revenues to £1.84 billion in the six months to 30 June. It completed 8,072 house sales – up 3.6 per cent on a year earlier – of which around 4,900 were private sales. Persimmon said the average selling price of private homes lifted 2 per cent to some £236,700.

“Consumer confidence remains resilient in our markets and attractive mortgage products provide compelling support to purchasers of new homes,” it said.

Bovis is set for a “significant step up” in first-half profits after a better-thanexpected 4 per cent rise in legal completions to 1,580.