Bellway reports 11.9% rise in half-year home completions
Bellway has posted a strong half-year performance, completing 11.9% more homes than last year, according to its latest trading update released on February 11.
During the six months ending January 31, 2025, Bellway completed 4,577 homes, up from 4,092 in H1 2024.
The private reservation rate also significantly improved, averaging 127 homes per week, compared to 105 per week last year. This marks an 18.6% increase, bringing the rate to 0.51 per outlet per week. Despite last year’s challenging economic backdrop, Bellway attributed this growth to stabilising mortgage rates and improved market conditions.
Expansion plans and market outlook
Bellway operated from an average of 248 outlets in the first half of the year, up from 243 in 2024. The company plans to open over 30 new outlets in the second half of the financial year, keeping its full-year average at around 245 outlets, in line with last year
Stable pricing and revenue growth
The average selling price of Bellway homes increased slightly to £310,600, up from £309,278 in 2024. The company remains on track to deliver at least 8,500 new homes by the end of the financial year, a rise from 7,654 homes in FY 2024.
Meanwhile, Bellway expects its full-year average selling price to settle at around £310,000, with an operating margin approaching 11%, compared to 10% last year.
Looking ahead, CEO Jason Honeyman expressed confidence in Bellway’s market position:
Bellway has delivered a strong first-half performance in challenging market conditions. While mortgage interest rates have increased modestly since the autumn, customer demand has remained robust, and the group has a healthy order book to support our targeted growth in the volume output for the full year.
The group has a strong balance sheet and landbank, and we remain very well-positioned to capitalise on future growth opportunities while continuing to play an important role in meeting the growing need for new homes across the country
