Chief executive Dean Finch

But the FTSE 100 housebuilder cautioned that the pace of progress is likely to moderate this year amid affordability pressures and weaker demand from bulk buyers.

The company reported a 12% rise in completed homes to 11,905, around 5% ahead of market expectations, despite a jittery final quarter as the Chancellor’s November Budget unsettled the housing market. Sales slowed as buyers held back, prompting Persimmon to increase incentives and marketing. The Budget’s clarity on property taxes and stamp duty has since helped restore some confidence.

Average selling prices rose 4%, outpacing national house‑price indices, and Persimmon reiterated that full‑year underlying profits should land at the top end of consensus, roughly £430 million, about 9% higher than 2024.

Chief executive Dean Finch said the performance reflected years of investment, a broad geographic footprint and a strategy focused on operational improvements. He added that early signs from the company’s Boxing Day sales push were “encouraging”.

However, Persimmon warned that fewer bulk sales, typically to institutional investors, and ongoing difficulties in the registered provider market would act as a drag in 2026. Excluding bulk deals, the net private sales rate rose 4% to 0.59 per site per week last year. Including them, the rate held steady at 0.70, reflecting a softer build‑to‑rent market late in the year.