Persimmon ups guidance amid ‘challenging’ market

Housebuilder Persimmon says it expects to deliver sales at the “upper end” of targets, despite a challenging property market.

The company has forecast about 12,500 home completions in 2026, adding profits are on track with guidance.

The update came despite bosses revealing “affordability constraints and build cost pressures” are continuing to drag on the industry.

York-headquartered Persimmon says new home completions were up 13 per cent to 5189 for the first half of the year, with group revenues 15 per cent better off at £1.73 billion for the six months to June 30 compared with a year earlier.

Pre-tax profits at the builder, whose office estate spans from Perth to Devon, were 15 per cent higher at £168 million.

Net private sales were up six per cent in the five weeks to the end of June, but the company said open market sales have “softened slightly in recent weeks” due to tough conditions in the wider housing market.

Boss Dean Finch said recent trading at the business - whose sites include Harebell Meadows, in Stockton-on-Tees; Tame Bridge View, in Wednesbury, near Walsall; and Farleigh Fields, in Backwell, near Bristol - represented a “strong” performance by the company over the half-year.

He added: “In a challenging market, this performance demonstrates the strength of our established strategy, product mix and geographic footprint, alongside the benefits of our lower cost operating model, sustained investment in the business and ongoing commitment to self-help.

“We remain on track to deliver growth in 2026 in line with market expectations.”

Persimmon's office estate also includes sites in Leicester, Newcastle, Nottingham, Swansea and Plymouth. 

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