New homes sales rising

The new homes market in the UK his is continuing its recovery from the recent market slump, according to new figures released by UK's largest new homes builder, Persimmon.

The country’s leading housebuilder said that it had sold a greater number of new homes during the second half of 2009, compared to the same period last year, with forward sales also ahead of 2008.

Persimmon expects to complete the sale of 9,000 new homes this year with the average price of a new home sold standing at £173,000.

Although the total number of new flats and new houses sold by the company this year is down 12% year-on-year, the 5,000 new homes expected to be sold in the second half of this year, is higher than the 4,7000 new home builds successfully sold during the same period last year.

The company said: “Whilst sales volumes have been consistent, we still have significant concerns regarding the availability of mortgages, particularly the higher loan-to-value products required by first-time buyers.

“We remain concerned about the potential impact on our markets of any significant increase in unemployment,” it added.

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