Bellway bullish on house completions

Housebuilder Bellway has stuck by its forecast that completions will be similar to last year in the six months to 31 January, albeit at slightly higher average selling prices.

The Newcastle-based firm, with several developments in Scotland, added that it had agreed a new 150 million borrowing facility with one of its major lenders. Chairman Howard Dawe told the annual meeting: "Bellway continues to be well positioned in what is still a tough and testing market for UK housebuilding."