Housing market “back to normal”
The builder said demand for new housing remains resilient as increased affordability continues to sustain the market.
Ted Ayres, chief executive of Bellway Group, said: “Demand for new housing is resilient across the country and continues to be supported by the availability of affordable, higher loan to value mortgages and in particular, the continuation of the government’s Help to Buy scheme.”
In response to the strength of the market Bellway has made a significant investment of £233m in land as it looks to capitalise on demand.
Ayres added: “Further disciplined investment in land should mean that the Group is well placed to deliver continued volume growth, further improvements in return on capital employed and another significant increase in profitability in the current financial year.”