- Berkeley Group, London's largest housebuilder, has called for "strong political leadership" and "decisive intervention" to address the capital's failing housing market.
- The company warned that London is currently delivering less than 10 per cent of its annual government housebuilding target, with apartment building completion times increasing significantly.
- Rob Perrins, Berkeley's executive chairman, urged the government to cut stamp duty to three per cent for new homes and to zero for first-time buyers to unlock demand and attract investment.
- Berkeley claims these measures would enable London to meet its housing targets, boost tax revenues, and increase GDP by one per cent.
- The intervention comes as Andy Burnham is expected to become prime minister , with plans to shake up housebuilding policy and boost social housing.
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