Revenues decline at housebuilder Persimmon as fewer people sign up to buy homes

Housebuilding giant Persimmon reported a decline in revenues from upcoming sales as fewer people signed up to buy houses in 2019.

The UK’s second-largest housebuilder also followed rival Taylor Wimpey in saying that the cost of building homes was on the rise.

Persimmon said the cost of building a house would rise by around 4 per cent this year.

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Persimmon’s weekly private sales rate declined 5% in the year to date, it said, as it was impacted by changes in its marketing practices.

But it said the UK housing market had remained resilient during the year, with high levels of employment and low interest rates continuing to support consumer confidence.

The company said: “With mortgage lenders continuing to offer attractive products, the level of customer activity has been encouraging, with visitor levels to site, sales conversion rates and cancellation rates all running in line with our expectations.”