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Sun May 26 2024

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Persimmon sales up 4% year-on-year

13 Nov 12 Persimmon has presented further hope of modest recovery in the housing market with private sales running 4% ahead of this time last year.

Visitor levels to sites have been 6% ahead of last year from the start of the autumn season and cancellation rates continue to run at historically low levels at 20%, the company said.

Persimmon launched a new 10-year strategy in February, focusing on profitability, free cash generation and maximising selling prices. Although prices have remained stable, Persimmon’s average selling price is up 5% this year to £172,000 due to change in sales mix.

The company is fully sold up for the current year and has more than £50om in forward sales reserved beyond 2012, up 5% on this time last year.

Persimmon has acquired more than 5,500 plots since 1 July, including 1,600 plots in the southeast with the acquisition of Hillreed Homes last month, adding to the 5,779 new plots acquired in the first half of 2012.  Since 1 July, about a third of the acquired plots have been converted from the strategic landbank. 

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