There is “no prospect of material improvement” in the London housing market unless the government shows “more decisive intervention”, Berkeley has warned. Reporting on its year end results, the housebuilder called for changes, including a reduction in the “excessive tax burden” and proper resourcing of regulators, including the Building Safety Regulator. Berkeley has paused buying new land as announced in April, pointing to "geopolitical events” and escalating taxes and costs. During the year ending April 30 2026, the company saw revenue drop 4.2 % year-on-year to £2.38 billion. Meanwhile, Berkeley completed 4,076 homes, slightly above 2025’s 4,047.