Housebuilder Berkeley signals end to bumper earnings as profits fall

Group will target growth outside its traditional territory of London

Profits at Berkeley Group fell by a fifth last year as the housebuilder signalled the end of a period of bumper earnings and said it would look outside its traditional territory in London.

Growth in the housing market has weakened in the past three years as extended political uncertainty has weighed on prices, particularly in London and south-east England, where Berkeley specialises.

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from Property | The Guardian http://bit.ly/2WRVRjd
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