Persimmon has reported a rise in profits of 31% for the first half of the year, in part down to the UK general election result.
The home builder said profit before tax was £272.8m for the six months to the end of June, up from £208.9m for the same time last year.
The rise in profit follows a boost in revenues after the election in May. Persimmon warned before the election that uncertainty surrounding the result was making it more difficult to secure planning permissions.
This week Bovis announced it had built a record number of homes in the first half of this year.
The Persimmon chairman, Nicholas Wrigley, said he expected the growth in mortgage lending to continue as the economy recovers. The number of new homes sold in the first half of this year was up 7% compared with the same period last year, with sale prices up 4%, the company said.
Persimmon’s chief executive, Jeff Fairburn, said: “We have now entered the traditionally slower summer weeks for the market. Our private sale reservation rate since 1 July is currently 5% ahead of the same period last year which is a reflection of the continuation of healthy customer demand.”
