Partner Article

Bellway benefits from Help to Buy injection

Seaton Burn-based housebuilder Bellway says the Government’s Help to Buy scheme has increased demand and helped them to increase their construction.

The Group sold over 3,000 houses homes throughout the six months to the end of January, a 25% increase on the same period the year before.

Bellway sold a number of high value London apartments, and completed more homes in the South, during the period which raised the average selling price of their homes by 13% to £212,000.

The firm said more house completions on higher margin land, coupled with streamlined overheads, was likely to contribute to an operating margin over 15% for the first half.

A trading statement said debts of £16 million with bank facilities of £300 million gave the Group sufficient room to continue investing in land.

The Bellway statement read: “Disciplined investment in land and work in progress, augmented by the opening of two new divisions, has enabled Bellway to increase the rate of construction and respond positively to these improving market conditions.

“This has resulted in significant enhancements to both profitability and shareholder value.”

This was posted in Bdaily's Members' News section by Tom Keighley .