Persimmon reports 20% rise in value of sales

Housebuilder Persimmon has reported 2010 sales of £1.15bn, a fifth up on last year in an interim statement to the City today.

The number of homes sold are also 11% up on the same time in 2009, the firm said, with cancellation rates at “historically low” levels. It said the market was stable and holding up well, despite continued uncertainty surrounding the impact of the election.

It is on course to open the 90 sites promised at the start of the year, and has purchased new land.

Borrowing, however, was down just £2.5m on the figure reported at the end of December, at £265m.