Housebuilder Berkeley to Pause Buying New Land for Homes Amid Global Volatility

Housebuilder Berkeley to pause buying new land for homes amid global volatility

The risk of global volatility slowing recovery in the housing market ‘has now become a reality’, Berkeley said.

Berkeley shares plummet as it 'pulls up drawbridge' and stops buying land

Shares in leading housebuilder Berkeley plummeted on Wednesday after it paused housebuilding to protect its balance sheet against an “unprecedented increase in cost and regulation”.  The firm’s share price fell by more than 17 per cent shortly after markets opened, to a decade low, leaving the stock down 28 per cent this year at 2,832p. The FTSE 100 firm welcomed the government’s housebuilding ambitions and recent emergency ‘Homes for London’ pa…