The housebuilder has seen a 37% fall in the number of home completions in Q3 2023 compared with the same period last year, and expects the near term to remain challenging — as mentioned in its latest trading statement.

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According to the update, Persimmon traded in line with expectations during Q3, delivering a total of 1,439 homes — a significant dip compared to 2,270 homes seen in Q3 2022. 

This included 1,234 private homes and 205 partnerships homes for its housing association partners. 

Persimmon attributes its low build rates in Q3 to a slower sales environment, resulting in the rates being approximately 30% lower year-on-year. 

Despite the new home completions drop, the housebuilder claimed it is on track to deliver around 9,500 dwellings in 2023.

The group’s private selling price on completions was up 2% on the same quarter last year, reaching £296,822.

Persimmon’s partnerships’ average selling price increased 20% in the same period, reflecting a higher weighting of completions to the South compared with the prior year.