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09 Nov 2021 | 07:36

Persimmon on track for 10% completions growth this year

(Sharecast News) - Housebuilder Persimmon said it was on track to grow new home completions by 10% this year and targeted a return to pre-pandemic trading levels by 2022. In a trading update for the period from July 1 - November 8, Persimmon said the average private new home sales reservation rate per site was around 16% ahead of 2019.

The company on Tuesday added that £1.15bn of forward sales had been reserved beyond the current year, up from £0.95bn two years ago.

"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," said chief executive Dean Finch.

"The fundamentals of the UK housing market remain strong with good levels of consumer demand and confidence, mortgage availability and low interest rates. We continue to manage the inflationary pressures in the industry well and anticipate that margins will remain resilient."

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