Persimmon posts revenue rise

House builder Persimmon has reported an 8% rise in revenue for 2016 despite the EU referendum and housing market scares. In a trading update, the firm said it posted total revenue of £3.1bn, up from £2.9bn the year before, while the average selling price increased by 4% to £206,700. The house builder said that reservations through the autumn season were strong, with “healthy customer demand for new homes”. It added that the market was supported “by competitive mortgage offers that continue to make a new home purchase very affordable”. Completions were up by 4.1% to 15,171 homes, and its private sales rate for the second half of the year was 15% ahead of the 2015 figure. In the land market, it bought another 18,700 plots across 83 locations with good deferred terms. The firm “continues to see good land opportunities though remains mindful of the risks associated with the UK’s decision to leave the EU”. The group’s full-year results will be released at the end of February. • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette