British builder highlights tougher conditions

British housebuilder Bellway today said the Midlands, Yorkshire and the North West were being “particularly hard hit” in the housing market slowdown.

The group said overall reservations were down 31% on a year earlier and that it had lowered its estimate for the fall in number of homes sold this year to between 10% and 15%, compared with 5% to 10% seen earlier this year.