By Anthony O. Goriainoff
Bellway said housing completions rose in the fiscal first half and backed is guidance for the year.
The London-listed housebuilder said Tuesday that for the six months ended Jan. 31 total housing completions rose to 4,577 homes, compared to 4,092 homes the year before. Average selling price rose in the period to 310,600 pounds ($384,150) from 309,278 pounds.
The private reservation rate per outlet per week--a key metric for the industry--rose 18.6% to 0.51.
The housebuilder said that although it didn't experience a typical seasonal step-up in reservations in the autumn season, its performance was stable throughout the first half with firm pricing across its regions.
Bellway said its forward order book as at Jan. 31 comprised 4,726 homes, versus 3,970 homes the year prior, with a value of 1.31 billion pounds, compared with 1.01 billion pounds.
The company said it was on track to meet full-year volume output of at least 8,500 homes, compared with 7,654 homes for fiscal 2024 and continued to expect the full-year average selling price to be around 310,000 pounds, up from 307,909 pounds on July 31.
"We remain mindful of the sensitivity of customer demand to mortgage affordability and the evolving economic backdrop," it said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
February 11, 2025 02:22 ET (07:22 GMT)
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