Persimmon Expects Higher Profits As Help-To-Buy Props Up Prices

Persimmon has upgraded its annual profit forecast after building more houses and increasing its prices, with nearly half the homes sold using the government’s help-to-buy scheme. Britain’s second-biggest housebuilder reported a 4% rise in revenues to £3.7bn in 2018. The average selling price for private homes rose 2% to £238,877. The company said the housing market was underpinned by robust employment levels, low interest rates and competitive mortgages. Persimmon is one of the main beneficiaries of the taxpayer-funded help-to-buy scheme, which supported 48% of the firm’s house sales last year, similar to 2017. Read more on the Guardian website.

https://www.theguardian.com/business/2019/jan/15/persimmon-profits-help-to-buy-prices