The Berkeley Group Stock News

UK housebuilders face weak demand and rising cost pressures, RBC said, although the broker expects ‘Your First Home' to significantly boost newbuild sales. RBC's tracker puts five-year fixed mortgage rates at 5.3% for first-time buyers borrowing 75% of a property's value, up 20 basis points from April's 5.1% post-Iran peak.

Berkeley Group Holdings PLC (LSE:BKG), the FTSE 100 housebuilder focused on London and the South East, has warned that some buyers may defer purchases until after October's Budget. In a trading update released at its annual general meeting on Thursday, the company said sentiment and core economic indicators have deteriorated further since the start of its financial year in May.