Bellway reports “robust” half year but sluggish sales

Bellway has reported a “robust” half year performance, with housing completions growing 2.7% and the housebuilder on track to deliver full year volume completions but with private sales down.

Issuing an update for the sixth months to January 31 2026 ahead of its interim results on March 24, Bellway said that during the period, its housing completions increased from 4,577 homes in H1 2025 to 4,702, with private completions representing 79% of the total, the same as 2025.

The overall selling price of the homes rose to around £322,000 compared to last year’s £310,581.

Bellway noted its performance, despite “subdued trading” through the autumn with uncertainty surrounding the Budget. But it had entered FY 2026 with a “strong” order book.

Reflecting the market uncertainty, its private reservation rate per outlet per week, including bulk sales, was 0.47, lower than 2025’s 0.51. Excluding bulk sales, this was 0.46 (2025: 0.45).

“The group has a good pipeline of bulk sale opportunities, and we expect a higher level of conversion in the second half of the financial year,” it said.

During the period, Bellway traded from an average of 244 outlets, slightly down on 2025’s 248, in line with its …