Bellway’s half year volumes grow 6.3%

March 24, 2021
<p>Bellway saw its home sales grow to a “record” 5,656 homes during its half year, it said today. The housebuilder has also set aside a further £20.3 million to undertake fire safety improvements in legacy apartments.</p> <p><span>During the six months to January 31 2021, Bellway’s home sales grew 6.3% from the 5,321 achieved during the equivalent period in 2019/20. For its full year, the business now expects to complete the sale of around 10,000 homes - returning to pre-pandemic levels – against the 7,522 homes of July 31 2020.</span></p><p></p> <p><span>Bellway said the volume increase, alongside a rise in the average selling price of 5.8% to £303,206, produced a 12.5% rise in housing revenue to £1,714.9 million – another record.</span></p><p></p> <p><span>At the same time, pre-tax profit dropped 4% to £280.2 million, with Bellway’s operating profit nudging up slightly to £297.7 million from the previous year’s £297.2 million.</span></p><p></p> <p><span>During the half year, the company’s private reservation rate increased 3.3% to 156 per week, with the overall reservation rate staying “resilient” at 191 per week (2020 - 194).</span></p><p></p> <p><span>Bellway said sales rates were “more pronounced” in the summer and early Autumn, driven by the effects of the national lockdown last Spring. With lockdown …

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