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Persimmon beat expectations for new home building last year after a “particularly strong” final quarter when falling mortgage rates helped to boost sales.
The FTSE 100 housebuilder sold nearly 10,000 new homes in 2023, it said on Wednesday, more than the 9,500 forecast. However, the number of sales was still much lower than in 2022, as higher mortgage rates stretched affordability for first-time buyers.
Borrowing costs have eased in recent months, breathing life back into the housing market. But Persimmon warned that the market would still be uncertain in 2024, particularly given the upcoming general election.
This is a developing story
