New profit target for Berkeley
<p>Berkeley says it is on target to deliver £2 billion of pre-tax profit over the three years from May 2015 despite reservations down a fifth year on year.</p> <p>Announcing interim results, the firm said profit in the six months to October 2016 is up 33.9% to £392.7 million. The firm has announced a new five year target to deliver at least £3 billion of profit before tax in the five years from May 1 2016.</p> <p>"Excluding an hiatus around Brexit, reservations are 20% down on the same period last year, as a result of the market adjusting to increased stamp duty and the economic uncertainty arising from the result of the EU referendum," the firm said.</p> <p>Chairman Tony Pidgley said that the strong financial results were due to decisions made by Berkeley folowing the 2008 financial crisis to invest in land at the right time. But he added that there were barriers facing the industry in London and the south east which "do not relate solely to planning. They also centre on the challenge of getting land ready for development. In many instances, the issues which stop companies building more quickly are utilities, remediation, easements, compulsory purchase orders, as well as the discharge of planning conditions after a consent has been granted. This is a key area to address as it will reduce the barriers to entry for small housebuilders as well as increasing the pace of delivery.</p> <p>"More widely, there remains a tension in the planning system between the Community Infrastructure Levy and the London mayor's ambition for Affordable Homes. This affects investment decisions and needs to be resolved if new housing targets are to be met. We look forward to results of the CIL Review which we hope will address this issue."</p>
Barratt leads the way at Housebuilder Awards 2016
Barratt was crowned large Housebuilder of the Year of the 2016 Housebuilder Awards at a glittering ceremony last month (November) in London.
Raising roofs
Larkfleet has applied for planning permission to build an experimental house that could rise on jacks above flood waters.
Barratt is Housebuilder of the Year
Barratt has been crowned large Housebuilder of the Year at the 2016 Housebuilder Awards.
Savills five year forecast
Post referendum economic uncertainty and weaker consumer sentiment signal a period of low house price growth and significantly lower transaction levels, according to new five year forecasts from Savills.
Persimmon to build brick factory
Persimmon is to build its own brick factory to help maintain discipline over its procurement process and tight control of all development costs.
Croudace restructures
Croudace Homes will begin the new year with a company restructure, which will see the business split into two autonomous regions - North and South Thames.
Redfern Review launches
The financial squeeze on young people is at the centre of the decline in the country's home ownership, but home owning can only be sustainable in a market of multiple tenures, according to the Redfern Review into the Decline of Home Ownershiplaunched in November.
1 million homes "on track"
Government figures show that 190,000 homes were added to the housing stock in England in the last financial year, up 11% on 2014 - 2015.
Industry welcomes Autumn Statement focus on housebuilding
The Home Builders Federation has welcomed the housing measures announced in the government's Autumn Statement last month (November).
