UK housebuilder Persimmon encouraged by market
22/08/2006 - 08:26:53The UK’s largest housebuilder sounded an upbeat note today as it rejected fears the property market could be knocked by a hike in interest rates.
Announcing a 16% rise in half-year profits to £271.5m (€399.3m), Persimmon said there had been “no tangible effect” on its business following the Bank of England’s decision to add quarter of a percentage point to rates.
Executive chairman John White said: “For the majority of our homebuyers, decisions to move are driven primarily by their family dynamics and therefore we expect this healthy market to be sustainable.”
