The Berkeley Group Holdings plc

Major UK housebuilders are facing a class action lawsuit potentially worth more than £4 billion, filed on behalf of over 700,000 buyers of new-build homes between October 2015 and June 2026. The claim accuses Barratt Redrow, Taylor Wimpey, Bellway, Berkeley Group, Persimmon, Vistry Group, and Countryside Partnerships of sharing sensitive information on prices, buyer incentives, and sales activity, which allegedly weakened competition and drove up new-build home prices. Compensation is estimated at between £2.2 billion and £4.5 billion, equivalent to £3,100 to £6,200 per affected homeowner. The lawsuit, managed by consumer rights advocate Mark McLaren, requires approval from the Competition Appeal Tribunal before it can proceed. It follows a Competition and Markets Authority investigation that resulted in a record £100 million settlement and commitments to stop sharing sensitive pricing information.

Berkeley Homes has launched a judicial review against Southwark Council’s decision to block its 867-home redevelopment of the Aylesham Centre in Peckham. The FTSE 100 developer argues the refusal undermines Labour’s housebuilding agenda, with executive chairman Rob Perrins warning it has already shaken investor confidence. The scheme, which would have replaced a 1980s shopping centre with more than a dozen tower blocks up to 20 storeys and a new Morrisons, was rejected on heritage grounds. Local MP Miatta Fahnbulleh, a key economic adviser to Andy Burnham, had backed the campaign against the project, calling the decision a “big win” for the area. Morrisons is supporting Berkeley in the legal challenge, saying the cost includes the loss of a new town centre and much-needed affordable homes.

Andy Burnham is considering devolving aspects of income tax across Britain to give local authorities greater power, according to Lord O'Neill of Gatley, who is tipped to become his chief economic adviser. Lord O'Neill said constitutional devolution is a key theme for the presumptive future prime minister and that business rates devolution is a very strong probability, while exploring income tax devolution would be on the agenda for serious study. He also warned that a spectacular rise in public spending cannot continue without market punishment, noting that 10-year gilt yields are above Greek equivalents, and called for root-and-branch welfare reform to cut debt and grow the economy. British bosses are expected to warn Burnham that taxing businesses more would be a road to ruin, and Berkeley Group chief executive Rob Perrins cautioned against a fresh tax raid on homeowners, urging pro-growth policies like capping stamp duty on new-build homes instead.

Berkeley Group Holdings plc reported a 14.7 percent drop in profit before tax for fiscal 2026, falling to 451.4 million pounds from 528.9 million pounds a year earlier. Revenue declined 4.2 percent to 2.38 billion pounds, while earnings per share slipped to 331.1 pence from 370.00 pence. The company completed 4,076 new homes across London and the South-East at an average selling price of 546,000 pounds, compared with 4,047 homes at 593,000 pounds in the prior year. Net asset value per share rose to 39.17 pounds from 35.95 pounds. Berkeley said it remains on track to meet a further 528 million pounds in shareholder returns by September 30.