<p><span>Berkeley’s sales have been 25% lower since the end of September compared to the first five months of its financial year beginning last May, it said today.</span></p> <p><span>Reporting on the period from November 1 2022 to February 28 2023, the London and south east housebuilder called this sales performance “resilient” given the volatile market since the end of September - taking in the effects of the mini-Budget – and reflected “the underlying demand for quality homes” in its geographic areas.</span></p><p></p> <p><span>But Berkeley added it was taking a “cautious approach” to releasing new phases of schemes, with the focus on “the quality of our forward sales” as well as cost control and maintaining operating margins.</span></p><p></p> <p><span>Sales pricing had remained “firm” during the trading period and above Berkeley’s business plan levels. Build cost inflation was “showing early signs of moderating”.</span></p><p></p> <p><span>Despite the difficult market, the business reported remaining on track for pre-tax earnings of around £600 million for its year ending April 30 2023. It said this was underpinned by its cash due on exchanged forward sales, expected to be above £2 billion at its year end. This compares to the £2.17 billion of FY 2022.</span></p><p></p> <p><span>Berkeley also said it aimed to …