Persimmon says first-time buyers struggling to afford new homes in UK

Persimmon said its sales had begun to pick up after a 42% fall in the number of new homes it sold between January and March, compared with last year. Photograph: Darren Staples/Reuters

Sales of new homes to first-time buyers are struggling, according to the housebuilder Persimmon, as higher interest rates make mortgages less affordable.

The company, which is one of the UK’s largest domestic property developers, said people looking to get on the housing ladder were facing “stretched affordability” and less choice on home loans.