Persimmon on track for record profits

UK housebuilder Persimmon moved to cool fears over the affordability of the new homes market today as it prepared to unveil another set of record results.

The group, which builds more than 12,000 homes a year, said the 10% rise in its average selling price so far this year – to £170,000 (€255,000) – was below the level reported in surveys and showed the sector remained competitive.