M Winkworth plc
Winkworth reported strong trading for FY 2024, with a 23% annual increase in sales agreed and a 19% rise in completed sales due to lower financing costs and household rebalancing. Positive momentum is expected to continue into FY 2025, especially in Q1, driven by real wage growth and anticipation of lower interest rates before the stamp duty discount ends in April 2025. Lettings activity slowed, with applicants down 5%, but revenues rose 5–6% due to higher rental prices.
Vistry Group
Vistry faced challenges in the open market due to mortgage affordability but supported sales with up to 5% discounts. Build cost inflation was neutral in FY 2024. Key developments included partnerships delivering thousands of mixed-tenure and affordable homes across Birmingham, Coventry, East London, and Cornwall, with sustainability features integrated into new builds.
Persimmon Plc
Persimmon delivered a 7% increase in home completions (10,664 homes), surpassing market expectations. Private completions grew 18%, while partnership completions fell. The average selling price rose 5% to £268,500. Sales rates improved 21% year-on-year, supported by land investment and a 5% increase in outlets. The company remains cautiously optimistic for 2025, backed by a strong order book and strategic land investments, while being mindful of economic and regulatory risks.
