Bellway 'will build output' amid 'robust' demand

A housebuilder says it is poised to post a significant increase in annual production despite ongoing economic uncertainty.

Bellway says it is “on track” to deliver at least 8500 homes in its current financial year.

The number would dwarf the 7654 recorded in its last 12-month period, with the Newcastle-headquartered firm hailing “robust” customer demand in “challenging market conditions”.

Bosses revealed their optimism in a trading update for the six months to January 31, which showed sales 11.9 per cent higher at 4577 and housing revenue 12 per cent better off at more than £1.42 billion.

The firm’s forward order book was also more than 750 stronger at 4726, with its value rising to £1.3 billion.

And officials at the company, which has developments across the UK, say they expect conditions to remain favourable, despite enduring worries over the mortgage landscape.

Highlighting Government planning reforms, Jason Honeyman, group chief executive, said: “We remain mindful of the sensitivity of customer demand to mortgage affordability and the evolving economic backdrop.

“(However), the long‐term fundamentals of the UK housebuilding industry remain positive, and we welcome the Government’s reforms to the planning system to drive a marked increase in the supply of new homes across the country.

“We remain very well positioned to capitalise on future growth opportunities while continuing to play an important role in meeting the growing need for new homes across the country.”

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