Thanks to the government’s help-to-buy scheme and competitive mortgage deals the house builder Permission reported that profits rose by 13% in the first half of the year.
For Persimmon pretax profits rose to £516 million from £475 million in the first half of the year with further growth expected in the second half of the year.
Persimmon’s chief executive claims that ‘’customers are continuing to benefit from a competitive mortgage market and confidence remains resilient based on healthy employment trends and low-interest rates.’’
The housebuilder sold over 8,000 new homes in the first half of the year, up by 4% and their average selling price increased by 1% to £215,813.
They owe a lot of this success to the governments help-to-buy programme, which has lifted sales and supported house prices across the UK.
Persimmon also said that they are o track to deliver further growth in the second half of this year, with a forward sales book totalling £2.1 billion, 6 % ahead of the same period last year.
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by Steve George