Despite most people referring to this housing market as deplorable, Persimmon Homes Builder is enthusiastically looking forward to the upcoming spring selling season. Pre-tax profits for the firm increased from 7 million pounds in 2009, to almost 96 million pounds in 2010.

The builder acknowledges there are challenging times ahead, but looks forward with encouragement as mortgage approvals increased to almost 46,000 in January. This is still far from the 70 to 80,000 approvals indicative of a stable housing market, but with weather improving every day, consumer confidence should improve as well.

Net lending also showed promise, as it rebounded from a futile December. January saw 1.8 billion pounds of lending.

John White, Persimmon’s outgoing chairman, commented on the near future of the market, saying: "Despite a continuing low level of mortgage approvals, the group is achieving improving returns and remains well positioned for the upturn in the housing market when it occurs."

Persimmon’s shift in direction from building apartments helped increase the profit. Currently, Yorkshire projects at Driffield, Easingwold and North Hykeham all boast more family homes.

North division chief executive, Jeff Fairbum, commented on the ability to obtain mortgages, saying: "The main factor remains mortgages and the availability of mortgages, and whilst the affordability is there, for first-time buyers the issue is one of deposits. It would be nice to see more higher loan to value products. It's just getting that balance right. I think there might be more products becoming available on the mortgage market. It will make the market more accessible to people."