Housebuilder Persimmon expecting a strong 2015 due to stamp duty changes

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PERSIMMON, Britain’s biggest housebuilder by market value, is looking forward to a strong year in 2015 as homebuyers make the most of changes to stamp duty and mortgages become more easily available.

The group reported a 17 per cent increase in legal completions to 13,500 new homes in 2014 after it received a boost from the Government’s Help to Buy scheme, which benefited around 40 per cent of its customers.

The York-based firm, which was founded by Duncan Davidson in 1972, is heading for further growth after the Council of Mortgage Lenders forecast that lending will increase by seven per cent in 2015.

At the same time, changes to stamp duty will mean 98 per cent of homebuyers will pay less tax when they buy a new house.

​Chief executive Jeff Fairburn said: “We are seeing good support from the mortgage market.

“We are seeing oil prices reduce and competition between the grocers, so people will have more disposable income in 2015.

“The changes to stamp duty will also help people. We haven’t seen the impact of that yet.”

The average selling price for the group in 2014 was £190,500, an increase of five per cent over 2013 when the average price was £180,941.

The company reported a 23 per​ cent rise in revenue to ​£2.6bn in the year to December 31.