Persimmon on track to build 10% more homes this financial year

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Home builder Persimmon said it still expected to build 10% more houses in its current financial year.

In a trading update for the period from 1 July to 8 November, Persimmon said its average private new home sales reservation rate per site was about 16% ahead of 2019.

It added that £1.15 billion of forward sales had been reserved beyond the current year, up from £0.95 billion in 2019.

'Persimmon continued to perform well through the period against a backdrop of healthy demand, with private sales reservation rates per site remaining well ahead of 2019, as sales followed a more normal seasonal pattern as expected when compared to 2020,' chief executive Dean Finch said.

'While the industry continues to face challenges in the UK planning system, we are successfully bringing new land into construction and growing our already strong UK wide outlet network.'

'With £1.15 billion of forward sales reserved beyond the current year and a quality pipeline of new developments coming on stream, Persimmon has a robust platform to support its continued high quality growth and the delivery of superior long-term sustainable returns for the benefit of all stakeholders.'