Drawn-out Brexit prompts Bellway to slow land investment

By Hamish Champ2019-03-27T10:48:00

Housebuilder adopts “cautious approach” to land buying in recent months

Bellway has reduced its spending on land in certain parts of the UK pending the result of the country’s protracted exit from the EU.

Announcing its half-year results, the housebuilder said that it had adopted what it called a “cautious approach” to land buying in recent months and temporarily slowed the rate of investment on a number of site acquisitions.

Bellway said it had agreed to buy 5,980 plots in the first half, down 11% on the same time last year.

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