March 12 (Reuters) - British homebuilder Persimmon warned of subdued market conditions throughout this year on Tuesday, despite a relatively good start to 2024, after it reported an about 52% slump in annual profit, missing the market view.

The British housing sector has seen signs of stability at the start of 2024 on easing mortgage rates after battling subdued demand for most of last year, but a delay by the Bank of England in lowering interest rates and incessant macro-economic concerns have tempered hopes of a better-paced recovery.

"Enhanced competition in the mortgage market and wage growth have contributed to improved affordability albeit it continues to be constrained, particularly for first time buyers, and demand for homes remains varied across the country," the company said in a statement.

The York, North England-based company, however, said weekly net private sales rate per outlet stood at 0.59 units in the first 10 weeks of 2024, compared with 0.54 homes in the comparable period a year ago.

Reflecting the positive start to the year, Persimmon - which builds studio apartments to five-bedroom houses - said it would likely build between 10,000 units and 10,500 units in 2024, up from the 9,922 homes it constructed the year earlier.

The company said it expected to change from an average net cash to an average net debt position through 2024, as it looked to expand its outlet base and invest in progressing projects in anticipation of a housing market upturn.

The FTSE 100 firm's pre-tax profit was at 351.8 million pounds ($450.5 million) for the full year ended Dec. 31, below the LSEG average analysts' estimate of 359.5 million pounds. ($1 = 0.7809 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)