Bellway set to build on 'robust' spring trading

HOUSEBUILDER Bellway has reported a “robust” spring selling season with renewed demand and resulting sales.

- TOM KEIGHLEY

The FTSE250 builder said affordability had improved for house hunters, leading to increased confidence across the four months between the beginning of February and start of June. It meant a 5.9% boost to the company's private reservation rate to an average of 161 per week, up from 152 in the same period last year.

Bellway now expects to finish between 8,600 to 8,700 homes this year having previously said it was heading for 8,500. The overall reservation rate, including social homes, rose by 2.1% to 196 per week and the cancellation rate was consistent at 11%.

Underlying operating margin at the Newcastle-based business is also expected to reach about 11%, having been 10% in 2024.

Forward orders were up by 7.7% to more than 5,750 homes at the begin ning of June, compared with 5,346 at the same time last year. Bosses said they expect to continue a year-on-year increase in the forward order book at the end of July.