Bellway announce completions up 10%

Bellway announce completions up 10%

According to newly released figures, Bellway’s housing completions rose 10.6% in the year ending July 31 2017 against the previous year.

In a trading update ahead of its preliminary results announcement on October 17, the housebuilder said it had achieved further volume growth, with completions rising to 9,644 during its financial year.

Its housing revenue is expected to rise by more than 13% to £2.5 billion. Bellway said this was almost 2.3 times the housing revenue of just four years previously, “demonstrating the rapid rate of increase achieved as a result of the ongoing growth strategy”.
Bellway anticipates that its operating margin will rise to “slightly in excess” of 22% against 2016’s 22%.

Its average selling price lifted 2.9% to a “record” £260,000. Bellway said that throughout the year, the robust demand for new homes had been aided by the continuing support of Help to Buy, and the ongoing availability of cost effective mortgage finance. It added that since the general election, demand had remained strong.

Against this backdrop, Bellway achieved an almost 11% improvement in average reservations per week to 187. Its private sales rate picked up in the second half of the financial year thanks to new site openings and ongoing investment in work in progress.

Bellway also said it had a strong forward sales position, with the order book as of July 31 2017 rising 16% to £1,296.3 million, representing 4,749 homes against 2016’s 4,644.

Ted Ayres, Bellway’s ceo, said: “A focus on delivering growth, set against a backdrop of favourable market conditions, has helped Bellway to surpass last year’s record in respect of both volume and operating margin and further increase the group’s contribution to the supply of much needed new homes.  This excellent trading performance, together with additional investment in attractive land opportunities, ensures that Bellway is well placed to continue its disciplined growth strategy.”

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Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

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maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

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maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

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zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

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Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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