Bellway hopeful of another record year

Housebuilder Bellway today said it was on course to achieve record levels of completions and turnover, despite recent interest rate rises.

The Newcastle-based group said home reservations were currently 6% ahead of the same period last year.

Ahead of its annual meeting, Bellway told shareholders that it was “cautiously optimistic” of achieving its 16th consecutive year of growth by July 31.

Chairman Howard Dawe said: “Whilst the market remains stable but competitive and against a background of interest rate rises, we await the traditionally strong spring selling season with cautious optimism.”

In October Bellway said that some parts of the country were more resilient than others, notably the North East, Scotland and the Thames Gateway area.