In an interim statement for the period covering 1 July to 16 November, the house bulder said trading levels were up on the same period last year since and it expects to have completed around 9,000 homes for the year to 31 December.
Persimmon said encouraging summer sales rates had been maintained through the autumn, prices had held firm and forward sales were up on last year. It said it was fully sold up for 2009 and had a further ВЈ500m of sales on the books for next year.
The house builder added that it was working to reduce debt and expected borrowings at the year end to be вЂњsignificantly lowerвЂќ than the ВЈ400m guidance given at the half year results.ADVERTISEMENT
However, Persimmon warned that further UK job losses could harm the housing market and it still had вЂњsignificant concernsвЂќ about the availability of mortgages, particularly the higher loan to value products required by first time buyers.
The statement added : вЂњWhilst we remain concerned about the potential impact on our markets of any significant increase in unemployment over the coming months, debt is reducing well ahead of our previous guidance, sales volumes have stabilised and pricing conditions are currently more positive.
вЂњHaving strengthened our forward order book and reduced borrowings significantly, the group's financial position remains strong."
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