by Trevor Sturgess

A housebuilder with many projects in Kent has reported half-year profits following “resilient” sales.

The company reported a pre-tax profit of £9.8 million thanks to rising land values.

Legal completions for the first six months of the year were 4,006 units, down from 5,501 in the same period a year ago, at an average selling price of £155,524 (H1 2008: £181,485).

While total sales were down to £612m from £998 in the same period in 2008, the company, which is selling new properties in Ashford and Sheppey, said recent visitor levels exceeded those of last year and cancellation rates hade been significantly lower throughout the period.

The more positive report follows a similar assessment by Kent-based housebuilder Bovis earlier in the week.

Persimmon group chairman John White said: “We expect sales rates to remain resilient due to the successful destocking that has occurred in the industry combined with the continuing good levels of underlying demand for new homes in the UK.

“Recently, selling prices have stabilised in most parts of mainland UK. Future volume increases and price movements will be dependent upon mortgage availability, job prospects and the health of the general economy.”