Housebuilder says sales are up since the spending review

Housebuilder Bellway said the housing market has recovered since the Comprehensive Spending Review in October with recent sales “ahead of expectations.”

In an interim management statement it said that the decline in consumer confidence experienced over the summer “appears to have levelled out” albeit leaving sales rates still slightly down on the same period last year.

Bellway has now sold 3,614 homes for this year, up 3.6% on this point last year, but, because of the recent sluggish period, has only secured 400 sales for next year, a third down on 2009. In total the number of sales in the six months to January will be the same as last year, but profit before tax on those sales up by 20%.

It said it would increase its number of sales outlets from 185 to 200 in early 2011, but that the outcome for the whole financial year to July would depend on consumer confidence in the spring selling season.

Topics