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TODAY'S OTHER NEWS

Help To Buy boosts housebuilder’s profits once again

While even agents of the calibre of Savills struggle in today’s market - see the agency’s figures here - it’s a different story for builders benefitting from Help To Buy.

One of the biggest beneficiaries of the scheme, Persimmon, has delivered what it calls “another strong trading performance, with continued growth in 2018.”

Annual revenue of £3.74 billion was four per cent up on 2017. Completions increased by 406, a three per cent rise, to 16,449.

“Our average selling price of circa £215,560 was one per cent higher than last year. The UK housing market has continued to benefit from robust employment levels, low interest rates and a competitive mortgage market, which have supported confidence and customer demand across the regions” says the firm.

Persimmon has 31 separate companies across the UK - the latest opened two weeks ago at Harworth, near Doncaster.

The firm says it’s in an “excellent market position” ahead of the spring selling season despite “increased levels of uncertainty” caused by Brexit. 

It has £1.39 billion of forward sales reserved at the end of last year, up three per cent.

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