Persimmon (LSE:PSN) reiterated on Thursday that full-year 2026 trading remains on track to meet market expectations, as the London-listed housebuilder reported a 4% rise in its net private sales rate and planning approvals running ahead of last year despite a shrinking sector.
The group's private forward sales position rose 3% to £2.15bn in the period from 1 July to 1 November, up from £2.09bn a year earlier, with 77% of this year's expected open market private delivery already exchanged or completed, matching last year's level.
Net private sales per outlet per week since 1 July increased to 0.79, from 0.76 a year earlier; excluding bulk sales, the rate rose to 0.65 from 0.63.
"We are pleased to have sustained our resilient performance in a challenging market, with our market share continuing to grow," said Dean Finch, Persimmon's group chief executive, adding that the group expects "another year of volume and profit growth" and remains on track to meet market expectations for 2026.
Company-compiled consensus as at 4 November puts full-year 2026 completions at 12,472 homes and underlying profit before tax at £455.7m; Persimmon reiterated its own guidance of around 12,500 completions.
The housebuilder, which also trades under its premium Charles Church brand and the Westbury Partnerships affordable housing business, said planning approvals reached 8,722 plots in the nine months to 30 September, up 12% from 7,753 a year earlier, supporting future outlet growth.
Average sales outlets fell 3% to 263 in the period, though the company has opened 57 new outlets so far this year and remains on track to open around 100 in total, with a pipeline of more than 100 further outlets due in 2027.
Land holdings stood at approximately 81,300 plots at 30 September, down 3% from around 83,800 a year earlier, while land spend in the third quarter fell to £107m from £127m, taking total land spend for the year to £378m against £336m in 2025.
The private average selling price in the forward order book rose 2% to around £301,900, from around £295,150 a year earlier, with total incentives running at around 5%, consistent with the first half.
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Persimmon said cost pressures have increased during the year in line with commentary given at the half year, and confirmed it anticipates a modest restructuring charge in the current year, first flagged in August, as it moves to mitigate additional cost headwinds by 2028.
Looking to 2027, the company expects inflationary pressures to add around £30m to £40m in costs, as previously set out in August, which together with higher financing costs are expected to limit near-term profit progression; full-year 2027 median consensus stands at 12,792 homes and underlying profit before tax of £460.5m.
The group said it is "too early to assess" the potential impact of the Government's proposed "Your First Home" scheme on 2027, noting the scheme has yet to formally launch, though it highlighted that around 35% of its private sales this year have gone to first-time buyers.
Persimmon's next scheduled update is its full-year 2026 trading statement on 12 January 2027.