Bellway H1 results: strong performance amid challenging conditions 

The developer has released its results for the period ending 31 January, showing a growth in housing completions of 11.9% to 4,577 homes, compared to 4,092 for the same period last year.

Other highlights include a land bank of 248 outlets with the company on track to open 30 more in H2.

The forward order book has 4,726 homes, compared to 3,970 in 2024, which equates to a value of £1,311.5m.

Bellway’s approach to land acquisition has remained disciplined and targeted, with 5,246 plots across 32 sites during H1, with a total contract value of £378.2m (compared to 1,237 plots across nine sites with a value of £103.4m in 2024).

The company has a debt of £8m, which it describes as modest and in line with expectations.

Looking ahead, Bellway is on track to deliver full year volume output of at least 8,500 homes (31 July 2024 – 7,654 homes) with output weighted towards the first half.

In terms of politics, Bellway noted that it remains ‘mindful’ of mortgage affordability, and welcomes government reforms to the planning system and its drive to supply new homes across the country.

Jason Honeyman, group chief executive, commented: “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 volume output for the full year.

“The Group has a strong balance sheet and land bank, 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.”