Persimmon seeks to open 75 venues as he toasts five stars

A YORK-based homebuilder has received a five-star rating as it plans to open around 75 new sites in the first half of 2022.

Persimmon, which earned a five-star rating in the annual HBF survey for the first time in its history, had opened more than half of its new outlets by the end of March 2022.

The UK’s second-largest homebuilder now has around 300 active UK sites and is looking to capture a bigger share of the market and further increase sales.

A new home under construction at Persimmon’s Germany Beck site in York

The group’s January 2022 trade update to date revealed that the forward sales position, including year-to-date legal completions, was just short of the year’s £3bn last, at around £2.8 billion.

Dean Finch, Group Chief Executive, said: “Persimmon continues to perform well.

“We are currently trading in line with expectations, demand remains strong, our average private sale rates are around 2% higher year-over-year and we have a strong forward order book of around 2.8 billion pounds.

“As expected, reflecting the profile of store openings, we expect this year’s completions to be weighted towards the second half, with first half completions being lower than those delivered in the first half of 2021.

“We continue to expect full-year 2022 volume growth of approximately four to seven percent of 2021 levels, with industry-leading resilient margins.

“We are delighted to have achieved a five-star rating in the annual HBF survey for the first time in our history and we are determined to continue to build on this excellent progress, consistently delivering high quality homes to our customers. clients.

“Earlier this month, we signed the Government’s Commitment on Cladding Removal and Fire Safety Remediation, the principles of which are in line with the commitment we announced over a year ago. a year.

“As such, we continue to believe that the £75m provision we have already made remains appropriate.”

York Press:

Work in progress on a new access road to the Germany Beck development of Persimmon, next to Fulford School

He added: “The UK housing market remains supportive and Persimmon is well placed for the future, with a strong and experienced management team, positive momentum in outlet openings, improving quality of construction and customer service and the growth of real estate properties with integrated, industry-leading margins.

“While we remain mindful of the current uncertainties, particularly regarding consumer confidence, rising interest rates and the impact of the tragic conflict in Ukraine, the board is confident in the disciplined growth and the future successes of the Group.”

Demand for Persimmon’s new homes continues to outstrip supply with good levels of customer inquiries and cancellation rates remaining low.

The average sale price for homes is around £266,000, up from £252,000 last year.

Persimmon said it continues to invest in land opportunities to provide a solid platform for future growth.

The company also continues to find efficiencies in its construction program and supply chain security, through its Space4 timber-frame factory, as well as its Brickworks and Tileworks manufacturing facilities.