Housebuilder upbeat

Published:  08 July, 2009

YORK: Housebuilder Persimmon has published an upbeat trading statement. The group expects to make no further land write-downs.

To-date, it has written down £710m from its land bank, about 18% of historic values.

The group is encouraged by current sales rates, although it notes that mortgage availability needs to improve further and employment prospects stabilise.

Financial advisor, Collins Stewart said the trading update is positive for the whole housing sector – confirming the level of stability in the underlying market.

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