Bellway eyes path back to growth

Housebuilder Bellway has said it is on track to deliver 7,500 homes in this financial year, down on a year ago but with a lift in its forecast average selling price to £305,000 from £295,000. The company said it should soon be back in growth mode after recent results. In a trading update covering the period from 1 February to 2 June, the company said it had seen stronger trading during the spring, with better reservation rates and improved “customer confidence”. The private reservation rate per outlet per week rose by almost 7% year-on-year to 0.62. The forward order book has increased to 5,346 from 4,411 homes at the start of the current financial year.  Chief executive Jason Honeyman said: “We have been encouraged by ongoing healthy levels of customer interest and combined with the strength of our outlet opening programme, we continue to expect a year-on-year increase in the forward order book at 31 July 2024. As a result, Bellway remains in a strong position to return to growth in financial year 2025.”