Berkeley sees recovery but warns of ‘volatile’ markets

Berkeley Group has hailed “robust” business over the past few months, with several metrics ahead of where they stood before the onset of the Covid-19 pandemic – but has warned of the risk of continuing inflation. In a trading update covering the period between last November and the end of February, the housebuilder said the value of sales and reservations remained “slightly ahead” of pre-pandemic levels, with “normal rates” of cancellations. However, the company warned of a “volatile” operating environment “with a number of challenges”. “For Berkeley, this is most immediately evident through continuing inflationary pressure and supply chain constraints, planning complexity and delays, the uncertainty associated with the combined efforts of the industry and government to address concerns around the safety of people living in tall buildings and the developing implications of the tragic situation in Ukraine,” it said. To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews Photo from Berkeley Group