London housebuilder Berkeley has sounded a more cautious
note on the impact of Britain's decision to leave the European Union than rival
Redrow, which is less exposed to investment buyers and foreign money.
Uncertainty following the June 23 referendum meant customers were taking longer
to buy, Berkeley said. Housebuilding was one of the sectors hardest hit by the
vote to quit the EU, with shares in the country's biggest companies losing
about a quarter of their value in the following weeks. And the impact has also
been felt on the ground, with Berkeley recently halting construction at a
luxury housing project in southwest London, where homes were expected to sell
for up to 5 million pounds, without saying why. Read more on the Reuters
website.
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