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Reservations in the five months to May at property group Berkeley fell 20% due to uncertainty over Brexit.

Full year pre-tax profits fell to £530m from £539.7m due to reduced ground rent sales, Berkeley added, while forward sales increased to £3.25bn from £2.95bn.

“The outcome of next week's referendum on Britain's membership of the European Union is significant for the UK's housebuilding and property sector.,” said chairman Tony Pidgley.

“Berkeley supports a vote to remain in the EU. London's status as the world's best big city is underpinned by labour mobility, cultural diversity and a constant influx of talent and investment from around the world, and the UK economy in turn is powered by the success of our capital city.”