Berkeley defies housing slump

Click to follow

The property market in London and the South-east is booming, despite the national gloom, the housebuilder Berkeley Group said yesterday as it outlined plans to hand £1.7bn back to shareholders over the next decade.

Berkeley reported annual profits up 23.5 per cent to £136m, on sales up by more than a fifth at £743m.

Berkeley's strong performance is thanks to a surge in London and the South-east as demand for new homes continues to outstrip supply.