Housebuilder Bellway has issued a positive trading update that reveals a 13% year-on-year reservation rate for the period 1 February to 4 June.
The company’s reservation rate for the period hit 221 per week, up from 196 per week last year. Its completions for the full year to the end of July are forecast to be almost 10% up on last year when 8,721 homes were completed.
Low unemployment and the provision of help to buy powered the company’s performance, as did its strong landbank, balance sheet and operating capacity, it said.
Ted Ayres, chief executive, said: “We have made a significant investment in land and work in progress over a number of years and this, together with a strong balance sheet and operational capacity for expansion, should ensure that Bellway is well positioned to deliver further volume growth.”
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