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Berkeley sees market recovery
09.09.09
London and South-East housebuilder Berkeley Group said the stability in the housing market which it first reported three months ago continued through the summer.
After 18 turbulent months up to June it told shareholders at today's annual meeting that recent trading had seen both the number and price of sales stabilising with cancellation rates back to normal levels and forward sales maintained at more than £600 million.
Chairman Victoria Mitchell said Berkeley had started selective buying of land and properties for development including the £22 million purchase of an old Metropolitan Police block of flats called Johnson House in Belgravia. She also said there were unlikely to be any more write-downs on its land bank.
