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NHF: Economy could be boosted by positive construction news

The National Housing Federation (NHF) has suggested that the positive half yearly report from home builder Persimmon could lead to new home builds.

Gavin Smart, research and futures assistant director at the NHF, claimed that the economy could be boosted by the news.

"We hope with increased government investment in affordable housing that housing associations can do even more to deliver decent homes and help support the economy, including the construction sector," he said.

Persimmon announced yesterday (August 25th) that property selling prices have stabilised in the majority of the UK.

It announced that over 4,000 units were complete in the first half of 2009, averaging a selling price of over £155,000.

The figure was down substantially on the same time in 2008, where 5,501 were completed at an average price of £181,485.

Earlier this week, Bovis Homes reported that it had a pre-tax loss of £8.6 million in the first half of this year.