<p><span>Bellway has reported “record” revenue and completions during its financial year, with both above pre-pandemic levels.</span></p> <p><span>Issuing a trading update for the year ending July 31 2022 ahead of the announcement of its preliminary results on October 18, the housebuilder said that its housing revenue rose 13% to more than £3.5 billion against FY 2021. In 2019, this was </span><span>£3,180.1 million</span><span>.</span><span> Housing completions increased 10.5% to 11,198 homes, comparing to 2019’s </span><span>10,892.</span></p><p></p> <p><span>The average price of the homes lifted </span><span>2.6% against 2021 to £314,400 which Bellway said was higher than originally anticipated, driven by a higher proportion of private completions - 82% of the total – and underlying house price inflation.</span></p><p></p> <p><span>Bellway’s underlying operating margin for the full year is expected to rise to around 18.5%</span><span>against 2021’s 17%, thanks to “improved site operating efficiency and completions from more recently acquired land”.</span></p><p></p> <p><span>During the year, the company’s average weekly private reservations were marginally ahead of 2021 at 170 per week (2021 – 169).</span></p><p></p> <p><span>At the same time, Bellway said that the slow planning system, compounded by a Covid backlog and “increasing complexities around biodiversity and nutrient neutrality regulations”, were continuing to mute the pace of outlet openings. As of July …