There has been a bounce in the property market over the past five weeks, one of Britain’s biggest housebuilders has claimed.
Persimmon, which last year built nearly 15,000 houses in the UK, said there had been a “strong pick-up” in sales since the start of October, albeit from a low base.
Developers endured a tough summer as another jump in mortgage rates further sapped the confidence of would-be buyers. Between July and September, Persimmon was selling 0.48 homes per week at each of its 270 or so sites, a fifth fewer than in the same period of last year.
However, over the past five weeks its weekly sales rate has improved to 0.59 homes. A portion of that reflected bulk sales to investors, a growing