Berkeley Homes still feeling Brexit effect 


High-end property developer Berkeley posted stable results this morning but critics are concerned for the property firm’s progress.

“This may sound like Berkeley is riding the Brexit uncertainty relatively well, but let’s not forget that they suffered disproportionately more immediately after the referendum vote because of their London focus,” said Helal Miah, investment research analyst at The Share Centre.

“While house builders are performing relatively robustly, we have seen the growth rates in sales slow-down and believe the growth rates of several years ago are a thing of the past.

“Rising labour and material costs will act as a headwind against the lack of housing supply and attractive mortgage rates for housebuilders profits.”