But the cautious tone on the outlook suggests this is something of a false dawn. With data pointing to another fall in house prices before the end of the year, the property sector is bracing itself for a double dip. Although Persimmon will be better placed to weather the storm this time, having paid down its debt pile to £122m, the austerity measures planned for the Autumn will surely affect housebuyers.
That’s why Persimmon should ready itself for a sharp reduction in sales, and start focusing on margins not volumes. Shareholders should thank their lucky stars that the housebulder reinstated the dividend early.?If it had waited until 2011, it might have thought twice.