精东影视

Berkeley Group has warned building safety regulations are putting pressure on housebuilding ahead of the introduction of a levy on developers later this year.

The developer, in a short trading update today, said it is still expecting to generate nearly 拢1bn in pre-tax profit this year and next, reiterating its 拢525m forecast for 2025 and 拢450m in 2026.

But it said: 鈥淏erkeley remains concerned by the impact of the extent and pace of regulatory changes of recent years, as we now await details of the new building safety levy.

鈥淭aken together, these incremental changes place significant pressure on the delivery of new homes.鈥�

The levy, expected to be implemented later this year, will see developers pay a fee on new housing developments which require building control approval. It is expected to raise 拢3bn.

Berkeley also called for a review of the 精东影视 Safety Act 鈥榞ateway 2鈥� process, which has seen construction on schemes delayed due to waits for regulatory checks.

It said: 鈥淎longside the rest of the industry, including the G15 group of housing associations, we believe a review of this process is necessary to ensure it meets its objectives without incurring further delays to delivery, and thereby supports the government鈥檚 housing ambitions.鈥� But Berkeley said it is 鈥渉ugely encouraged鈥� by the government鈥檚 planning reforms.

>>See also: 

>>See also: 

Berkeley said enquiries are at a 鈥渃onsistently good level鈥� and its reservations and sales rates are up on last year. However it warned: 鈥淔or this improvement to continue and sales rates to return closer to the levels of three years ago, there needs to be greater confidence in the trajectory of interest rate reductions and wider economic stability.鈥�

Berkeley鈥檚 net cash is expected to be around 拢300m at 30 April, down from 拢474m on six months ago, which it said reflected an acceleration of shareholder returns since the half-year through share buy-backs and the anticipated settlement of some 拢180 million of land creditors in the second half of the year.