The Charles Church builder saw pre-tax profits slump to £351.8 million in 2023 from £730.7 million the previous year.The group said the housing market is set to “remain subdued” and “challenging” in 2024, with little sign of a pick-up ahead of a general election and with interest rates still at their highest since the 2008 financial crisis.
Persimmon said: “With interest rates expected to remain at current levels and a general election on the horizon, market conditions are expected to remain subdued throughout 2024.” “Thankfully, there has been some stabilisation in recent months with mortgage rates having fallen from their peak in July 2023.
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