Earlier this week the wife of Berkeley boss Tony Pidgley sold 250,000 shares in the company. It leaves her with just over half a million but at 拢9.60 a pop she netted 拢2.4m from the deal.

The wife of FD and Pidgley protege Rob Perrins offloaded the same amount and director Tony Carey bagged 拢960,000 by selling 100,000 shares.

Guessing the reason behind the sell-off is a futile task but share dealing that involves the man whose every move is watched closely by other housebuilders and the City is a fun sport.

Earlier this year the Pidgleys sold their entire collection of award-winning horses and reported that it was to allow Mrs Pidgley to spend time with her family for the next three years.

Could it be she's missing life in the saddle and now has her eye on a new steed?

More plausibly perhaps the sell-off could be interpretted as Tony Pidgley thinking housebuilder share prices have run too far in recent months.

He tapped the market for 拢50m earlier this year and since February Berkeley shares have climbed from 760p to over 拢10 on the back of improved sentiment towards the sector as a whole.

But most agree it won't last as unemployment bites. "It shows he thinks the bottom of the market isn't here as he previously indicated," said one analyst.

Possibly, but the bottom of the housing market in London and the bottom of the share price cycle are not necessarily the same thing.

"It could be that they sold their shares simply to diversify their interests," said another analyst.

Equally plausible but far less exciting.