Housebuilders report improved forward sales
19 November 2012Three of the UK’s largest housebuilders – Persimmon, Barratt Developments and Taylor Wimpey – have released upbeat interim statements.
Persimmon said its forward sales reserved beyond 2012 were £508m, 5% up on a year ago, while Barratt Developments has boasted a 21% growth in private forward sales to £768.5m. Taylor Wimpey said its forward sales total £1.11bn (2011: £1.02bn), with growth being driven by private orders.
Persimmon’s statement, covering July 1-November 12, said the usual seasonal pick-up in autumn sales had been recorded, while average selling prices had increased 5% to £172,000. It expects to build on to 12.2% operating margin recorded in the first six months.
Barratt said it had traded well over the same period. “Market conditions have remained stable with no adverse impact from the Olympics, and our London business in particular is continuing to trade strongly,” it said.
Taylor Wimpey said it was now fully sold for its targeted 2012 completions. Sales rates in the second half of 2012 are running at a similar rate as 2011. It has also completed 1,179 homes under the government-backed FirstBuy scheme.
