Member Article

Persimmon report renewed sales upturn thanks to Help to Buy

York-based housebuilder Persimmon has reported an ongoing increase in sales, spurred by the Government’s Help to Buy mortgage guarantee scheme.

Visitor levels to our sites have been around 20% ahead of the prior year and the firm a now fully sold up for the current year, with £650 million forward sales reserved beyond 2013, a 41% increase on the year prior.

Persimmon said since July 1 they have acquired 6,000 new plots of land, 1,300 of which have been converted from our strategic land bank.

A trading statement from the firm said: “The successful conversion of our strategic land assets into our active site network remains key to the delivery of our higher level of gross margin and free cash generation.

“We look forward to the results of the Government’s current consultation on the localised housing standards associated with obtaining planning consents. A simplification of the red tape relating to these requirements will undoubtedly enable the industry to deliver an increase in new homes more quickly.

“In response to the improvement in sales we have increased our build rates across the country. Our robust build programmes and processes are enabling the Group to react swiftly to the increase in sales activity.“

This was posted in Bdaily's Members' News section by Tom Keighley .