By Marcus Leach

A report by homebuilder Persimmon shows there is hope of recovery in the new homes market.

Persimmon said that new sales reservations were up 12 per cent for the months January to March, compared with last year.

The property market saw a slow start to the year, but a surge in recent weeks has seen a slight recovery, leading to the firm's order book of £1.14 billion catching up with the level of a year ago.

The firm has confirmed that they aim to complete as many homes this year as they did last year, with an increase in completion in the second half of the year.