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Story summary
- Berkeley, the UK housebuilder, will halt land purchases and hiring due to the Iran war's impact on the property market.
- The company expects pre-tax profits of over £1.4 billion for 2027–2030, down from a forecast of £450 million for this year.
- Berkeley's shares fell nearly 18% before recovering slightly.
- It has land for 50,000 homes and will slow construction to align with market demand and regulatory approvals.
