Berkeley Group said its performance was in line with expectations for the half- and full year and that it was benefiting from a favourable housing market in London. Financial Times

In a market update ahead of its annual meeting, the London- and south-east-focused housebuilder, said: ‘The London market continued to provide a favourable environment for Berkeley to operate in during the first quarter of its financial year. Outside London, the market in the south-east is satisfactory.’

Berkeley’s new joint venture with Saad Investments of Saudi Arabia – its leading shareholder with a 29.2% stake – has acquired its first site and others are under review.