Berkeley to boost output by 50%

Berkeley is set to increase its annual housing delivery by 50% over the next six years. The firm says it is bringing forward 25 "large and complex residential-led developments" of which 20 have been acquired recently. The firm has begun construction on 20 new sites, including a number of these new large regeneration sites, over the past 18 months, and these will help deliver the extra homes. However it warned that the majority of sales from these regeneration sites will be at a lower average selling price than properties completed in recent years.

"Since the end of the financial crisis in 2011, Berkeley has acquired a number of long term regeneration sites, a number of which are now in, or coming into, production," the firm said in a statement today. "In total, Berkeley is in the process of bringing forward 25 large and complex residential-led developments, of which 20 have been acquired since the start of this period. These sites typically deliver between 1,000 and 5,000 homes and their development can take up to 30 years to complete. Their complexity often means that it can be five or six years before the first homes are delivered. The successful transformation …