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The Colour

Persimmon Upbeat On House Market

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Britain's largest housebuilder Persimmon has reported strong profits and said the recent interest rate rise has had little impact on the market.

Profits before one-offs rose 16% to £271.5m ($514.6m) for the six months to 30 June, compared with £234.9m in 2005.

Persimmon said that the recent rise in interest rates had led to "no tangible effect on our business".

Turnover in the half-year was up 42% to £1.5bn, while home completions rose more than 38% to 8,226 units.

Seems like the BBC are at it again. No news about RMs 1.6% fall, but builders post profits and it's front page.

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Persimmon are shooting themselves in the foot with that statement that the interest rate hike has had no tangible effect on their business. No doubt Merv and his mates at the BoE will take that on board at their next meeting.

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Persimmon have to say that so their directors can offload some shares!

Should be the job of the BBC to offer insight and analysis into the news ... yeah right!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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