UK homebuilders Persimmon and Vistry have reported a coronovirus-driven plunge in first-half revenues but said sales and interest in homes had picked up since, propping up prices and order books for the rest of the year.
The UK housing market ground to a halt during two months of hard coronavirus lockdowns, but construction and sales activity has picked up since mid-May.
Vistry said it expected the stamp duty exemption announced by the government this week would support buyers in the months ahead.
Persimmon, the UK's second-largest homebuilder, said revenue dropped 32% to £1.19 billion for the six months ended June 30, while Vistry's revenue from housebuilding activities slumped 59.7% to £344m.
Persimmon, however, added the value of its forward sales of new homes as at June end was 15% ahead of last year at £1.86 billion.
Housing reservations at Vistry were worth £1.66 billion at the end of June, up from the £1.5 billion on May 20.
Shares in Persimmon and Vistry were up 6% and 3% this morning, having rallied in the previous session in response to the government's stimulus plans.
