Berkeley has put its investment in new housing development on hold due to what it describes as an “unsupportive” operating environment.

The housebuilder, in an unaudited update for the six months to 31 October, said the planning and regulatory environment is “complex, uncertain and unpredictable.”

Rob Perrins, chief executive of Berkeley, said: “We are wholly aligned with the ambition to build more quality affordable and private homes where they are most needed, and to play our full part in meeting the country’s net zero target.