UK housebuilder Persimmon encouraged by market

The 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.