Persimmon signals hope for housebuilders

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But the spectre of rising unemployment could yet undo it all, the leading housebuilder warned.

Persimmon expects to complete the sale of 9000 homes this year with current average sales prices of £173,000.

While that is around 12% fewer than in 2008, the 5000 expected sales in the second half of 2009 compares to 4700 in the same period last year.

Current sales prices compare to an average of £155,500 in the first half of 2009 and are up on the £163,000 this time last year.

The company warned that despite a reduction in group debt over the last year from £960 million to £399 million, it is not yet out of the woods.

"Whilst sales volumes have been consistent, we still have significant concerns regarding the availability of mortgages, particularly the higher loan to value products required by first time buyers," the company said.

"We remain concerned about the potential impact on our markets of any significant increase in unemployment," it added.