Housebuilder Berkeley to halt buying new land and hiring staff

Group cuts costs as shares plunge while it grapples with impact of Iran war on property market Business live – latest updates One of Britain’s biggest housebuilders has said it will stop buying new land and hiring new staff, as it grapples with the impact of the Iran war on the property market. Berkeley, a London-focused housebuilder, said it would cut costs as it warned that “geopolitical volatility” and “reduced potential” for interest rate cuts could weigh on the business.