Newcastle-based housebuilder Bellway plc said its forward order book at January 31, 2025, comprised 4,726 homes (2024 – 3,970 homes), with a value of £1.311 billion (2024 – £1.012 billion).

In a trading update for the six months ended January 31, Bellway reported growth in total housing completions of 11.9% to 4,577 homes at an average selling price of £310,600 (2024 – £309,278).

Housing revenue increased 12% to over £1.42 billion.

“In line with previous guidance, the group is on track to deliver full year volume output of at least 8,500 homes (31 July 2024 – 7,654 homes) with output weighted towards the first half,” said the Newcastle firm.

Bellway CEO Jason Honeyman said: “Bellway has delivered a strong first half performance in challenging market conditions.

“While mortgage interest rates have increased modestly since the autumn, customer demand has remained robust, and the group has a healthy order book to support our targeted growth in volume output for the full year.

“The group has a strong balance sheet and land bank, and we remain very well-positioned to capitalise on future growth opportunities while continuing to play an important role in meeting the growing need for new homes across the country.”

In its outlook, Bellway said: “While we have been encouraged by a seasonal pick-up in customer enquiries and reservation rates in the early weeks of the current spring selling season, we remain mindful of the sensitivity of customer demand to mortgage affordability and the evolving economic backdrop.

“The long-term fundamentals of the UK housebuilding industry remain positive, and we welcome the Government’s reforms to the planning system to drive a marked increase in the supply of new homes across the country.

“We remain confident that, given the group’s operational strengths and land bank depth, Bellway remains very well-placed to deliver volume growth in the years ahead to support ongoing value creation for shareholders.”