UK housebuilder Persimmon has reported good progress in challenging market conditions and has saw an improvement in trading during the third quarter.

The company has also announced that it has booked £500m of sales for 2010, which is 50% ahead of last year.

The housebuilder said it will complete 9,000 homes during the year, and cancellation rates remained low at 16%.

-- Advertisement --

However, Persimmon still has concerns regarding mortgage availability, particularly for first time buyers. and the rise in unemployment.

In a statement the group said: "Whilst we remain concerned about the potential impact on our markets of any significant increase in unemployment over the coming months, debt is reducing well ahead of our previous guidance, sales volumes have stabilised and pricing conditions are currently more positive."

(CD/BMcC)