UK Housing Market Shows Signs of Recovery as Labour Pushes for Reforms

Berkeley Group sees potential for growth with new policies, despite challenges from inflation and high mortgage rates.

Berkeley Group has purchased its first new development sites in over two years, signaling optimism in the UK housing market.
The housebuilder credits the Labour government's planning reforms for improving conditions, though inflation and mortgage rates remain concerns.
Labour aims to build 1.5 million homes in five years, but recent tax and spending measures have raised fears of prolonged economic challenges.
London's housing market has been particularly affected, with housing starts dropping 60% year-on-year due to high borrowing costs and fire safety regulations.
UK house prices have risen for five consecutive months, with November's average reaching a record £298,083, according to Halifax.