Persimmon on Track to Build Between 10,000 and 10,500 Properties Despite High Interest Rates

Housebuilder Persimmon is defying the odds in the property market, with plans to build between 10,000 and 10,500 properties this year despite high interest rates. The company’s forward sales position reached £1.75bn in the first quarter, showing growth compared to last year.

Although new home completions were slightly lower than the previous year, Persimmon’s private forward order book is up 18% to £1.14bn, with the average selling price also showing improvement. This positive outlook is reflected in the company’s CEO, Dean Finch, who expressed confidence in the market and the company’s performance so far.

Despite challenges such as high interest rates and a squeeze on consumer finances, Persimmon is seeing encouraging signs of growth. Analysts note that while the sales rate is lower compared to previous years, there is a notable increase in average sale price within the forward order book, hinting at future success for the company.

With a focus on quality and customer service, Persimmon is positioning itself for success and aims to convert its land holdings into active developments. The company’s resilience in a challenging market is a testament to its commitment to growth and innovation.