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Property giants to reveal if homes market is rebuilding
Daily Express
|March 11, 2024
BRITAIN'S housebuilders are set to shed light on the state of the fragile property market amid a number of key updates this week.
Shareholders are braced to see accounts for Persimmon, Berkeley and Vistry show a fall in sales numbers after high interest rates weighed heavily on activity.
FTSE 100 firm Persimmon will reveal its latest trading figures in a statement tomorrow. It has already told investors sales in 2023 were due to be down around 16%, blaming the jump in interest rates and the end of the Help to Buy scheme.
Completion numbers were also down 33% as it slowed building activity due to softer demand.
But it is hoped profitability will be robust amid cautious investment and easing construction inflation.
This story is from the March 11, 2024 edition of Daily Express.
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