Persimmon sales rise despite Brexit shakeout in the property sector

Britain’s biggest housebuilder, whose shares have slumped since 24 June, said it was too soon to judge the effect of the referendum vote on the housing market

In the first six months of 2016 Persimmon sold 7,238 new homes – up 6% on a year earlier. Photograph: Neil Hall/Reuters

Britain’s biggest housebuilder Persimmon said it was trading well and sticking to plans to return cash to shareholders despite fears about the property sector following the vote to leave the EU.

The York-based company said a few potential customers cancelled viewings straight after the referendum result was announced on 24 June but that business was back to normal.

In a trading update, Persimmon said it was too soon to judge the effect of the referendum vote on the market but that demand for houses and low interest rates would probably keep business buoyant.

In the first six months of 2016 Persimmon sold 7,238 new homes – up 6% on a year earlier – at an average price of £205,500, also up 6%. Revenues increased 12% to £1.49bn.

Jeff Fairburn, Persimmon’s chief executive, said: “The first half trading has been good. We’ve been pushing hard through that period to the end of June to get increasing volumes and the increase in the selling price. Forward sales are good and we have got some good new sites to start.”