# Persimmon improves completion guidance despite ‘challenging’ housing market

By Russ Mould — 2026-08-06

Commenting on the news that Persimmon has improved its completion guidance despite a ‘challenging’ housing market, AJ Bell investment director Russ Mould was impressed but expects cost pressures to come into play in the future.

He said: “Given the backdrop, Persimmon guiding for home completions at the top end of the expected range for 2026 is no mean feat.

“This is underpinned by strong volume growth in the first half of the year. Persimmon also reported resilient margins which only edged slightly lower year-on-year.

“The company’s vertically integrated model, with materials and components manufactured in-house, helps provide a measure of protection against rising costs.

“It does not however render Persimmon immune from the inflationary pressures facing the industry and this was reflected in the company quantifying a substantial headwind on this front in the coming 18 months.

“The need to have a cash buffer to withstand these pressures explains the decision to keep the dividend on hold. It is striking that Persimmon hasn’t yet pivoted towards buybacks like several of its peer group.”

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