<p><span>Bellway has seen “healthy” customer interest since February but with private reservations down almost 30% on the equivalent period last year.</span></p> <p><span>Giving a trading update for the period from February 1 to June 4, Bellway reported an “encouraging” spring selling season since the challenging fourth quarter of 2022 after a week-on-week improvement in private reservations during January and February. However, its average private weekly reservation rate dropped to 139 from last year’s 198.</span></p> <p><span>The lower reservation rate in the reporting period drove a decline in the value of the forward order book, valued at £1,710 million</span><span>compared to 2022’s £2,404 million, although Bellway noted this was still “sizeable”.</span></p> <p><span>Reiterating previous guidance, the firm said it was on track for full year volume output of 11,000 homes for its year ending July 31 2023 against FY 2022’s 11,198. Its overall average selling price is anticipated to be around £300,000, slightly down on 2022’s £314,399.</span></p> <p><span>Bellway claimed an encouraging trading performance but it was “mindful” that the uncertainty over interest rates and cost of living effects “could impact housing demand”.</span></p> <p><span>The housebuilder also noted reduced mortgage product availability in the short term, with lenders responding to interest rate changes. It also said …