Homes firm Persimmon in Peterborough is optimistic for building growth

​A leading housebuilder with offices in Peterborough has given an upbeat outlook on the housing market.

​Persimmon, which has its East Midlands headquarters in Commerce Road, says cheaper mortgage rates are helping it sell more houses now than last summer.

Its figures for the first half of the year show improved sales and robust average sales for Persimmon.

The company says it now expects 10,500 home completions for the year, which is at the top end of its previous guidance range.

Its results show that new home completions are up five per cent with net private sales rate up five per cent reflecting improved selling during the spring, selling season with underlying operating profit in line with last year at £152 million.

Dean Finch, chief executive of Persimmon,. said: “The first half of the year has been strong, with improved sales rate and robust average selling prices.

He added: “Strengthening consumer sentiment, improving conditions and the government’s ambitious planning reforms are all supportive of our ambition to grow this year.”

Charlie Huggins, manager of the Quality Shares Portfolio at Wealth Club, said: “There are signs that confidence is returning to the housing market.

"Interest rates have finally started to be cut, mortgage rates are coming down and a landslide Labour victory provides further fuel for optimism, particularly given their pro-housing agenda.

“The wild card is the global economy. For now, there are more green shoots than at any time in the last two years.”