Persimmon expects 2021 to be a better year for the business than 2019.
In a trading update this morning, chief executive Dean Finch said that trading had returned to a more normal pattern, following the disruption of last year. He added that sales rates remained “well ahead of 2019 levels”. The group’s average private sales reservation rate for the period was around 16% higher than for 2019.
The housebuilder added that build costs were likely to rise by 5%, but having its own manufacturing facilities for bricks, tiles and timber frames had allowed it to mitigate some of the rise in material costs.
It said that it had spent £380m on land over the year to date and expected to produce 10% more homes this year than last, with volumes returning to 2019 levels by next year.
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