Berkeley shows resilience

June 23, 2021
<p>Berkeley has hailed “strong results” for its financial year with a revenue climb and profit slightly up, and the business remaining “committed to London”.</p> <p><span>Issuing its full year results for the year ending April 30 2021, the housebuilder, operating in the capital, Birmingham and the south east, reported revenue of £2,202.2 million, a 14.7% rise on 2020, mainly from homes sold in London and the south east.</span></p> <p><span>Its pre-tax profit lifted 2.9% to £518.1 million. And it sold slightly more homes - 2,825 compared to last year’s 2,723. Their average selling price rose from £677,000 to £770,000.</span></p><p></p> <p>Berkeley delivered a “resilient” sales performance throughout the period, with areas outside London seeing good demand supported by the stamp duty holiday. </p> <p>But, as stated in its March trading update, Berkeley said the value of its private sales reservations was 20% down on 2020. It previously announced that it would delay certain sales launches until Covid restrictions were lifted. </p> <p>“However, enquiry levels in London are now ahead of pre-pandemic levels, signalling the return of confidence to the London market as we emerge from the restrictions of the last 15 months,” its statement read.</p> <p>Berkeley acknowledged the debates around cities following Covid-19. …

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