Persimmon has reported falling levels of interest in new homes, compared to this time last year. 12 months ago it had forward reservations of £1.3bn, now it is down 19% to £1.05bn.
Footfall through sites is also down 13% on the same period, with cancellations up 20% as potential buyers refuse to commit with banks and building societies tightening lending conditions.
Chairman John White complained of 'a very challenging year' and was cautious about the spring selling season. 'When confidence returns and sentiment improves we anticipate a return to a stronger market,' he said.
'In the meantime we remain cautious. Understandably, potential purchasers are currently taking longer to make decisions about the timing of their house purchase. There remains an underlying demand and desire for new homes but we have been experiencing a period of a "wait and see" approach.'
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