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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.
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