Persimmon is predicting an upturn in the housing market this year with a 3% to 4% rise in house prices. Chief executive John White said: “We had eight months of subdued demand as people stood back because they were unsure about prices. They are now deciding that they haven’t seen any evidence of price falls, so are coming back.” He said that visitor levels to company sites had remained stable but the rate of reservations was now on the increase. This comes on the back of record year profits of £460 million before tax, a 35% rise and the largest profit ever made by a British housebuilder. The south of England is expected to lead the recovery.