Berkeley today announced reservations down 20%. With its focus on higher-end new builds, along with stamp duty increases, there's no surprise in this news. Coupled with this was the result of the Markit/CPS survey with conflicting issues on demand and inflation adding to market uncertainty.
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The Markit/CIPS UK Construction Purchasing Managers' Index (PMI) edged up to 52.8 from 52.6 last month, helped by strong demand for residential projects. A figure above 50 indicates growth.But the survey also indicated that costs faced by builders rose at the fastest pace since 2011. Markit said was mainly down to the recent weakening of the pound, which has pushed up the price of imports
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