Numbers fall a quarter since last September鈥檚 mini-Budget

Berkeley has said it will take a 鈥榗autious鈥� approach to releasing new homes to the market after a sharp drop in sales in the second half of the financial year.

The housebuilder, in a trading update today, said that its sales since the end of September and the mini-Budget were around 25% lower than the first five months of 2022/23.

It said: 鈥淏erkeley remains focussed on cost control and maintaining operating margins, with build cost inflation showing early signs of moderating.

鈥淲hilst the prevailing volatility in the market persists, Berkeley will continue to match supply to demand, adopting a cautious approach to releasing new phases to the market as we focus on the quality of our forward sales.鈥�

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Berkeley said sales fell 25% in the five months after last September鈥檚 mini-Budget

But it said sales pricing is above business plan levels and it is on track to meet its previous forecast of 拢600m in pre-tax profit for the year ending 30 April and