Berkeley will reduce the number of sites it holds for development in the face of rising costs and planning constraints, it has said.

The housebuilder, in its interim results for the six months to 31 October, said the number of homes it builds will “inevitably” fall in London and the South East.

It said it will focus in the short-term delivering homes on its existing sites. It owns 84 sites covering 64,121 plots.

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