Persimmon is selling fewer homes than last year, among the first signs that the new housing market is starting to return to normal after two years of lock-in-fueled gains.
The developer’s sales in the first six months of this year were 1 percent ahead of the same period last year, though less than the vacancy rate. But in the last seven weeks, “as we return to the pattern of the regular season,” there has been a drop in sales.
The housing market normally slows down at the start of the school holidays, but this volatility has remained unchanged for two years, partly due to fewer families being able to escape, but also due to the recently concluded stamp duty holiday.
