GT and Persimmon positive in stable and improving market

July 5, 2011
<p>Persimmon and Galliford Try have both issued positive trading statements to the City, with sales up at both firms in recent months.</p> <p>Persimmon describes the market in the first half of the year as "stable" and the firm has opened 70 new sites in the period, with 70 more earmarked for the second half. Average selling price has dropped from almost £169,000 to £162,000 as the sales have been of smaller house types.</p> <p>Galliford Try has seen completions up 27% and sales carried forward up 23% in an improving market, and the firm is opening new sites in line with its expansion plan.</p> <p>Persimmon said that it is seeing modest improvement in mortgage lending, but that "any meaningful increase in industry output will only occur with a significant improvement in the currently constrained mortgage lending conditions".</p>

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