Housebuilder Bellway has reported “robust” trading through spring, as it hiked its forecast for the number of homes it will build this year.
The London-listed company told shareholders it has seen “good levels of customer demand and improved affordability” as interest rates have shifted lower in recent months.
As a result, the company said it is on track for higher volume output and higher profits in the year to July 2025, compared with the previous year.
Bellway has said it expects to construct between 8,600 and 8,700 homes this financial year, upgrading its previous prediction of around 8,500 homes. It compares with 7,654 last year.
Jason Honeyman, group chief executive, said: “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.
“We have a healthy forward order book and outlet opening programme, which will serve as a platform for further growth in full-year 2026.”
The firm said it has seen “a sustained increase” in private reservations and stronger future orders in the past four months.
Its forward order book increased by 7.7% and comprised 5,759 homes as of June 1, Bellway said.
The company also reported that the overall average selling price is expected to increase to around £315,000 for this year, increasing from its previous guidance of £310,000.
Mr Honeyman 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.”
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