Full Year 2026 Results Announced

Berkeley Group Holdings plc today announces its audited results for the year ended 30 April 2026.

The full announcement can be downloaded on the investor section of the website, with key extracts included below.

Rob Perrins, Executive Chair, said:

“We delivered 4,203 good green homes within the most under-supplied regions of the UK, with 90% built on underused brownfield land within designated regeneration areas. Our projects contributed £530 million in subsidies to deliver affordable housing and commitments to wider infrastructure and community benefits this year. Few business models deliver this level of public good.

“In its desire to stimulate economic growth, the Government has done an excellent job in restoring the fundamentals of housing policy, which had been abandoned by its predecessor. It has also tried to address the viability challenge with the Homes for London package which can make a huge difference if implemented constructively and with urgency.

“However, it now takes at least eight years to complete an apartment building in the capital from the point of acquisition, through planning, agreement of Section 106 requirements, consultation with statutory consultees, clearance of pre-commencement conditions, detailed design, Building Safety Regulator (BSR) approval and construction. Ten years ago, it took five years. A further 18 months is required for an appeal or call-in. There is no certainty that a planning consent will be secured at the end of this process as our recent experience at Peckham demonstrates where the Inspectorate determined that the Peckham Rye conservation area would suffer too much harm from new housing on the site of a run-down shopping centre. This after ten years of engagement on a site allocated for housing in the local plan.

“Every part of the system needs to work to reduce the time taken to get buildings into development and allow homebuilders to make a return commensurate with the risk that can attract the necessary investment capital. Currently more homes are being lost to other uses than being built. This can be addressed with the necessary policy changes and strong political leadership.

“Demand for and supply of new homes has been hit by over ten years of continual SDLT increases and new surcharges. Introduced by stealth during a period when interest rates were 0.25%, these taxes have curtailed the early investment in new homes since interest rates began to normalise at the end of 2022. It is this early investment that provides the necessary certainty for brownfield sites with their considerable upfront costs to come forward, thereby providing London with the new affordable homes and homes for rent it so desperately needs.

“SDLT should be reduced on all new homes to a maximum of 3% (zero for first-time-buyers) and the SDLT surcharges that deter the vital investment in new build homes so damagingly should be removed. These changes will be fiscally neutral or better due to the considerable increase in tax revenues generated from greater transactional activity and by stimulating additional homebuilding which drives corporation tax (which is 29% on all residential property developers’ profits) and payroll taxes (direct and throughout the supply chain).

“These structural supply and demand challenges have left London delivering less than 10% of its MHCLG annual new homes target, with no prospect of material improvement without more decisive intervention as it is clear that policy changes to date are not feeding through to delivery. Specifically:

1. The Homes for London package should be fully implemented forthwith and remain in place until London’s housing numbers are restored.
2. The time taken to deliver new apartment buildings needs to reduce from eight to five years, which it was ten years ago. This requires recognition of the appropriate required development return, with equitable review mechanisms that incentivise development. In addition, Section 106 mechanisms should be objectively assessed in a timely fashion with competing policy requirements and layering removed.
3. The excessive tax burden, that was introduced in a different economic paradigm, must be reduced to unlock demand and attract the essential investment without which regeneration schemes cannot proceed.
4. All regulators, including the BSR, need to be appropriately resourced to meet targeted statutory deadlines.

If these measures are introduced, London can meet its housing targets, tax revenues will grow and national GDP will increase by 1%.

“In the longer term, London’s outlook is hugely compelling and the city’s core strengths and appeal remain firmly intact. The capital is a true global hub, the largest financial centre in Europe and the second largest in the world. It offers security, heritage, and investment potential in an uncertain global environment.

“Berkeley’s performance is driven by the passion, skill and commitment of our people. They continue to deliver hugely positive outcomes for communities, the economy and the environment in the most challenging of conditions, and I would like to thank them on behalf of the Board and shareholders.”

Delivery Highlights

• 4,076 homes delivered, plus 127 in joint ventures (2025: 4,047, plus 282) – 90% of which are on brownfield land.
• Contributed over £530 million of value to community infrastructure and benefits, including affordable housing.
• Industry-leading Net Promoter Score +77.9 and customer satisfaction ratings maintained. Ranked first for both Customer Care and Build Quality by HomeViews, part of Rightmove.
• Updated science-based targets validated by the SBTi and more than 70 embodied carbon studies completed.
• Winner of the Biodiversity Protection Award at the National Sustainability Awards as a recognised pioneer in the industry for biodiversity net gain, with 56 developments committed to date.
• Gold membership of The 5% Club, with 8.5% of direct employees in ‘earn and learn’ positions as graduates, apprentices or sponsored students on our award-winning programmes within the year.
• AAA’ MSCI ESG rating and rated an Industry Top-Rated company and Low Carbon Leader by Sustainalytics.
• Placed on CDP’s prestigious “A” list for both Climate Change and Water Security.

Read the full announcement.