Persimmon boss sees better times ahead - but cautious over mortgages and Tories

Sept. 8, 2009
<p>Stabilising prices, increased visitor numbers and higher sales mean that the market is "over the worst" according to Persimmon ceo Mike Farley.</p> <br><p>However the challenges of the mortgage market, increasing unemployment and the housing policies of a possible Conservative government remain a concern.</p> <br><p>In an exclusive interview with <em>Housebuilder </em>magazine, Farley said that he would happily have taken the present market situation if offered it at the beginning of the year. The improvement means Persimmon - the first major housebuilder to suspend opening new sites last year when the market collapsed - is looking to open 50 new sites in the second half of this year.</p> <br><p>"Geographicaly the new sites will be spread across the board," said Farley. "We will be builidng more traditional housing, two storey family homes, and fewer three storey or apartments."</p> <br><p>Farley remains cautious about the mortgage market, which although improving is still challenging. "In 2007 there were 120,000 mortgage approvals per month, and this fell to 27,000 in November 08. We are now at 50,000 a month and short of the average of 93,000. What we need is some more new entrants into the mortgage market." </p> <br><p>Farley also expressed disquiet about the Conservative party …

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