Famed for its track record of calling the house market correctly, Berkeley said it had taken the decision to restock land as part of a series of measures to rise to the new Government’s challenge to build more homes.

Chief executive Rob Perrins revealed Berkeley would also now look to accelerate the build out of its long term sites to deliver an extra 10,000 private and affordable homes over the next five years.

Perrins said:  “Berkeley strongly supports the Government’s mission to build 1.5 million new homes and welcome the steps taken to begin reform of the planning system.

“Ministers have challenged industry to do more and Berkeley is determined to play our full part.”

“We have therefore today laid out plans for how we can start an additional 10,000 private and affordable homes over the next five years.

“These plans include accelerating work on our current long-term sites, securing new deliverable planning permissions, investing over £1bn into a new 4,000 home Build to Rent programme, and returning to the land market having not bought a new site for more than 2½ years.

“As with the Government’s mission for housing this plan is ambitious but achievable. When all levels of government work in partnership with industry we can move at pace, and deliver more of the good green homes people need.”