Sales boost at Bellway

Bellway’s completions in the six months to the end of January are up 6.3% on last year at 4,741, the firm said in a trading statement today. With average selling price up 7.8% to £276,000 – a record for the firm – then revenue has risen by more than 14% to £1.3 billion in the period.

The firm’s weekly reservation rate is up 7.2% giving Bellway “a strong forward sales position” with the value of the forward order book growing by 15.7% to £1.297 billion. The firm contracted on 6,726 plots of land.

“Bellway is continuing to make a sizeable contribution to the supply of much needed new homes and has delivered a further increase in both volume and average selling price in the six month trading period,” said Bellway’s executive chairman John Watson. “Significant investment in land, together with ongoing plans to expand the divisional structure, should lead to a further increase in output and hence result in additional value creation for our shareholders.”

The firm says market conditions continue to be favourable and customer demand for new homes remains strong. “In this positive trading environment, interest from customers remains high, with website traffic and visitors to sales …