Bellway see property sale increase



Bellway

Bellway

UK house builder, Bellway, have revealed an increase in house sales, after improving consumer confidence has helped boost the market.

Bellway revealed that they had reached a sales rate of 111 houses or flats a week for the 13 weeks between February and May, a 9% increase on last year and all the more impressive after the bank holidays in April for Easter and the Royal Wedding and the two normal ones in May.

Bellway also revealed that the average selling price of the homes they had sold increased by 4% to £182,000, a figure that was boosted by the number of homes they had sold in or around London.

Bellway, who have their head offices based in the North East where homes are losing value the fastest in the UK revealed that the current market conditions had left them well positioned for growth.

The company released a statement explaining, “The uncertainties that affected consumer confidence during the challenging autumn trading period appear to have diminished and, encouragingly, there has been a return towards a more normal reservation pattern with a healthy spring selling season, despite ongoing concerns remaining in the wider economy.”

Bellway also announced that whilst their net debt had increased to £57million by the end of last month, that they expected sales through to the end of the year to help bring this figure down substantially.

Bellway also announced that they had taken a further 1,600 reservations for properties due to be finished in the rest of this year, or at some point during next year.

The company will also have been buoyed by the news on Wednesday that the government were planning on selling land to developers.

The government are planning on tackling a growing shortage in housing, something that is keeping the price of houses artificially high, and will sell £10billion worth of public land to developers.

The move is expected to create an extra 100,000 homes in the next four years, with 25,000 jobs.

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