Bellway’s half year completions increase 11.9%

Bellway’s completions rose 11.9% during its half year, according to a trading update issued today (February 11).

During the six months to January 31 2025, the housebuilder completed 4,577 homes against the 4,092 of H1 2024.

Bellway said its private reservation rate was “strongly ahead” of the equivalent period last year at 127 per week (2024 – 105). At the same time, it noted this was set against “a weak comparator when mortgage rates were more elevated”. Its private reservation rate improved 18.6% to 0.51.

“While we did not experience a typical seasonal step-up in reservations during the autumn, trading was stable throughout the first half and pricing has remained firm across our regions,” it said in its statement.

The average selling price of Bellway’s homes was slightly up as expected at £310,600 (2024 – £309,278).

The business stated that it remained set to deliver full year volume growth of “at least” 8,500 homes compared to the 7,654 homes of FY 2024.

It also still anticipates its full year average selling price to be around £310,000 (31 July 2024 – £307,909). Its underlying operating margin is likely to “approach” 11% compared to 2024’s 10%.

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