Speculation is rife that Persimmon will soon launch a takeover bid for a sector rival. The City believes that weak market conditions will spark a round of consolidation in the housebuilding industry. Persimmon chief executive John white said he was “watching the sector with interest.” But he added: “We have stacks of opportunities for organic growth in the business so we don’t need to do a corporate deal to achieve that.” The comments came as Persimmon predicted a slight upturn in the market. White said: “There is cause for optimism in the autumn. Confidence is returning now people can see there is not going to be a price crash.” In a trading update Persimmon said that despite slower market conditions, pre tax profits would be ahead of last year, boosted by a 7.6% rise in average selling prices to £184,000. Persimmon said the rise was due to a combination of house price inflation and higher sales at its premium brand, Charles Church. (Independent)