Housebuilder Persimmon reports increased interest from potential buyers

Apr 24 2009 by Neil Hodgson, Liverpool Daily Post

HOUSEBUILDER Persimmon has sold more houses this year, but revealed its margins were still very tight.

Shareholders at yesterday’s annual meeting heard that market conditions since January have improved.

The company, which has several developments across Merseyside, said sales volumes are ahead of expectations, but pricing and margins remain under pressure.

About 6,500 homes are currently under reserve or have been legally completed, with sales revenue of around £960m.

The group also confirmed visitor levels to sales sites are “resilient” and cancellation rates have improved from 35% in the last quarter, to 16%.

A company statement said: “We are confident that our position in the market will provide a strong platform for growth when the market improves.”