Persimmon builds on Brexit vote

Persimmon led London’s blue-chips higher today as the builder said the housing market was thriving despite Brexit.

The builder said sales in the second half of 2016 were 15% ahead of the previous year. It actually sold more houses in the second half, after the referendum, than in the first.

Boss Jeff Fairburn said potential buyers, supported by low rates, cheap mortgages and the Help to Buy deposit scheme, were visiting sites and browsing online over the christmas break, “demonstrating the strength of the underlying market”.

Persimmon’s shares jumped more than 5%, or 95p, to 1905p, followed by Taylor Wimpey and Barratt Developments, which gained 3%.

Persimmon has £913 million in cash to invest and is hoping for the Government to speed up the planning system in its looming White Paper on housing.