21 Aug 2014

Persimmon profits surge


Persimmon has reported a surge in pre-tax profits for the six months to the end of June of £208.9m, compared with £132.9m a year earlier. New home sales rose 28% to 6,408, compared with 5,022 a year earlier. Persimmon said that average selling prices were 4.3% higher at £186,970 compared with £179,199 a year ago.

Source:   The Daily Telegraph   The Times   Financial Times  

House prices which defy gravity mean that there’s a generation of kids who face renting for decades.  Practically every home-owner in the South-East now has to worry about IHT.  Any return of interest rates to anything like normal levels will precipitate another wave of belt-tightening.  But don’t worry – it’s all worth it: house-builders are making good profits.