Persimmon sales slump continues in Q3

Sales volumes at Persimmon continued a downward trend in the third quarter as the embattled housebuilder delays releasing homes to buyers. There were 7,584 homes sold in the quarter, down 6% from the same period last year. The company has about 5% lower average active sales at an estimated 350 sites. The group average weekly private sales rate was 0.67, which it said was in line with previous year. The housebuilder reported £950m in forward sales beyond 2019, against £987m at the same time large year. Persimmon had anticipated drops as it seeks to complete sales at more advanced stages in the build to improve customer satisfaction. It is spending £15m a year extra on customer care. It comes after criticisms at the start of the year of low quality and large bonuses and high profit margins bolstered by first-time buyer Help to Buy sales. Dave Jenkinson, chief executive,  said: “Persimmon’s top priority is the delivery of higher levels of quality and customer service through the implementation of its detailed customer care improvement plan.” Jenkinson said the business “is putting customers before volume”. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette