Persimmon Homes sales better than expected

In an interim management statement released yesterday Persimmon Homes ,the UK housebuilder, said its sales volumes were ahead of expectations and that it currently had around 6,500 homes reserved, contracted or legally completed, with total sales revenue of £960million.

The firm said it had continued to reduce the number of active sites, down by 16%, as well as its holdings of part-exchange property, which are down to £30million from £55million at the end of 2008.

The company commented that"Whilst the recent improvement in market conditions is encouraging, we will remain cautious about the outlook until mortgage availability improves further and employment prospects become less uncertain. We are, however, confident that our position in the market will provide a strong platform for growth when the market improves."