"We have a healthy forward order book and outlet opening programme, which will serve as a platform for further growth in FY26"
- Jason Honeyman - Bellway
Bellway has reported stable trading across the spring period and now expects to complete between 8,600 and 8,700 homes by its financial year-end on July 31.
Covering the four months from February 1 to June 1, the housebuilder said it was encouraged by sustained customer demand and a noticeable lift in buyer confidence. Its private reservation rate per outlet per week, excluding bulk deals, held steady at 0.61, matching the same period last year. Including bulk sales, the rate increased 8.1% to 0.67, up from 0.62 in 2024.
Bellway confirmed its expected underlying operating margin for the full year would be close to 11%, a rise from 10% the previous year.
The company, which stated in March it aimed to deliver a minimum of 8,500 homes this year, now anticipates up to 8,700 completions, compared with 7,654 in 2024. Its current financial year is fully sold.
Reaffirming its earlier outlook, Bellway said that, provided market conditions remain stable, it remains capable of delivering 20% volume growth by the end of July 2026.
Its forward order book rose 7.7% year-on-year, totalling 5,759 homes as of June 1, compared with 5,346 in 2024. The total value of the book increased to £1.65 billion, up from £1.45 billion.
The average selling price for the full year is now expected to reach £315,000, revised upwards from £310,000. The company attributed the change to product mix, including a number of higher-value private completions expected in the final quarter.
During the reporting period, Bellway operated from an average of 242 outlets, slightly below 2024’s 245. It still expects the full-year average to be around 245, in line with the previous year.
The company said it remains focused on increasing its return on capital employed and improving balance sheet efficiency. It plans to update investors on capital allocation later in the year.
“Bellway has delivered a solid trading performance, and we are on track to deliver strong growth in volume output and profits in the full financial year," explained Bellway’s CEO, Jason Honeyman. "We have a healthy forward order book and outlet opening programme, which will serve as a platform for further growth in FY26.
He added, “I remain confident that, supported by the group’s operational strengths, land bank depth and an increased focus on cash generation and capital efficiency, Bellway can capitalise on the positive fundamentals of our industry and deliver volume growth, improved returns and ongoing value creation for shareholders.”
