HOUSEBUILDER Persimmon showed the benefit of its Westbury acquisition yesterday by revealing it sold £1.8bn worth of homes in the year so far.
The York company, which was propelled into the FTSE 100 Index by the £643m deal for Westbury, described weekly sales rates as very good, and estimated it had sold about 9,900 homes this year.
Broker Credit Suisse said the figures - issued ahead of Persimmon's annual meeting - accounted for 60 per cent of its own sales target for the company this year.
Credit Suisse said Persimmon's performance in the spring selling season raised hopes the market was over the worst. It said: "We remain of the view that market recovery remains fairly fragile and could be unsettled by interest rate changes but the prospect of a major collapse certainly seems to have retreated."
Persimmon said that prices continued to hold firm and it expected an increase of between three per cent and four per cent over the year.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article