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06 Sep 2019 | 07:15

Berkeley says market conditions in London, South East remain 'robust'

Homebuilder Berkeley said market conditions in London and the South East remained robust during the four months of the new financial year.

For the period from 1 May 2019 to 31 August 2019, pricing had remained stable and forward sales position remained above £1.8bn, the company said.

The wider market, however, remained constrained by high transaction costs and the uncertainty in the macro political and economic environment, the company added.

Berkeley said it anticipated net cash at the half year to be at a similar level to the full year position of £975m.

'Over the six years to 30 April 2025, we are targeting the delivery of £3.3bn of pre-tax profit, with the profit in any one year ranging between £500m and £700m, depending upon the timing of delivery,' the company said.

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