Persimmon ends 2013 strongly thanks to Help to Buy

Thu, 09 Jan 2014

Persimmon ends 2013 strongly thanks to Help to Buy
The UK's biggest housebuilder is reporting a "strong finish" to 2013.

Persimmon reports that its revenues, housebuilding, completions and selling price all rose in the second half of 2013. It has built 30 per cent more houses (6,506 in total) than it did it in the first six months of the year.

The government's Help to Buy scheme is being accredited with boosting Persimmon's figures, as the scheme has lowered the deposit required and borrower's rates, making it easier for aspirant first-time buyers to get onto the property ladder.

A statement read: "[Persimmon] has had a strong finish to the year."

"As indicated in our Interim Management Statement on November 6th2013, we responded swiftly to the significant increase in weekly sales rates by substantially increasing our construction activity across the country," it added.

Persimmon's average selling price has risen by four per cent to £180,900. Help to Buy has been criticised for potentially making house prices rise too much. Recently released figures suggest that they rose by 7.5 per cent in 2013, according to Halifax.
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