Berkeley reports recovery in demand after 'hiatus' around EU vote

摘要

Berkeley Group has reported a pick-up in demand in August in a trading update that was highly critical of the government's housing policy. Sales reservations have recovered from what Berkeley called a "hiatus" either side of the EU referendum. However, they remain significantly down on last year. Reservations in August are 20% below the levels seen in the same month last year, which is in line with what Berkeley reported for the first five months of the year. Berkeley also reported that pricing remained "resilient" and reiterated its forecast for the delivery of £2bn of pre-tax profit over the three years ending 30 April 2018, of which £0.5bn was delivered in the latest financial year. The company's share price, which fell sharply in the days after the Brexit vote, rose 3.5% on the day of the update on Tuesday.