Brexit housing market: Persimmon sees 'good opportunities' for housebuilders as sales rise

Persimmon has provided some cheer to Britain's battered property sector after revealing its sales of new homes rose by 6% in the fist six months of the year.

The company said it had sold 7238 new homes by June 30 and the average selling price rose 6% to £205,500. Group revenue was 12% higher than lst year at £1.5 billion.

Shares in UK housebuilders have suffered in the immediate aftermath of the Brexit vote, as fears of a slowdown in the property market mounted, but Persimmon said while it was too soon to judge the effect of the decision, a supply-demand imbalance would provide support.

"We believe that market fundamentals remain strong, supported by long term unfulfilled demand, and that the UK housing market will continue to provide good opportunities for those companies with the right strategic focus and the balance sheet strength to navigate future changes in trading conditions."

"We believe our focus on building traditional family housing in attractive locations for all purchasers from first time buyers to home movers will continue to attract customers in good numbers," it added.

However, it said the expected value of future sales was £1.4 billion, level with last year, after it decided to push back the release of 35 new sites.