Berkeley thriving but says price rises are slowing down
Tony Pidgley said the market has 'reverted to normal transaction levels from the high point in 2013'
Monday 01 September 2014
Tony Pidgley held back from calling the top of the market on house prices today but warned the market is returning to “normal” after peaking last year.
The outspoken chairman of housebuilding firm Berkeley, speaking at the group’s annual general meeting, said the market has “reverted to normal transaction levels from the high point in 2013, providing a stable operating environment”.
Estate agent Foxtons and recent house price surveys revealed price rises have begun to slow down after record growth.
Pidgley said demand for the “right product with good design in the best locations” has remained resilient and it has sold 15,750 new homes in London and the south-east since April.
Cash due on forward sales is £2.2 billion and it has a pipeline of more than 11,000 development sites. Berkeley has been working up planning consents to start work on a number of new schemes including at London Dock in Wapping and a site in Chiswick.
It continues with its plan to raise dividends to eventually pay 434p a share by September next year and will pay a 90p-a-share slice later this month. Berkeley said it is on track to meet earnings expectations this year.
Sales of the tablet are set to fall again say analysts
World's most lethal spider found under a bunch of bananas
Rumours that the star wants to move on to pastures new
Comedian says he 'never laughed as hard as I have writing with Rik'
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
- 3 Star Wars memorabilia called a 'bit of plastic' on Antiques Roadshow by Fiona Bruce valued at £50,000
- 4 Meet Thea, Norway's 12-year-old child bride
- 5 Russell Brand might seem like a sexy revolutionary worth getting behind, but he will only fail his fans
Kobani: Fifteen-year-old boy taken captive with suspected jihadist 'shot in the head by militant group' fighting against Isis
Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
Isis fighters 'crucify' 17-year-old boy in Syria
Oscar Pistorius sentencing: Olympic star must serve 10 years, prosecutor urges
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Sorry Judy Finnigan – Ched Evans is no less sickening than an alleyway rapist
Residents should throw a street party and mix with immigrant neighbours, councils told
Workers 'could be forced to pay £5 a week' to get benefits
Russell Brand threatened with arrest after filming outside Fox News headquarters
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
iJobs Money & Business
£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...
£50000 - £55000 per annum + bonus + benefits: Ashdown Group: IT Relationship M...