Bellway enjoys ‘strong growth’ in housing sales

Housebuilder Bellway today delivered a bullish trading statement, highlighting strong gains in both housing volumes and average selling prices.

The Newcastle-based firm said it completed the sale of 6,851 homes in the year to the end of July, an increase of 21.1 per cent on the previous year, with the average selling price rising 10 per cent to £213,000.

Chief executive Ted Ayres said: “The strong growth in both volume and average selling price has led to an overall increase in housing revenue to around £1.46 billion, a rise of over 33 per cent and a new record for the group.”

He added: “The favourable trading environment, together with the group’s national presence and strong balance sheet, ensures that Bellway is well positioned to continue its growth strategy and this, together with a strong focus on return on capital employed, should lead to further enhancements to shareholder value.”

Bellway is scheduled to release its full-year results on 14 October.