Housebuilder Bellway rises on solid property sales | Business | guardian.co.uk
Bellway, the fourth largest UK housebuilder, led the mid-caps by rising 3.57% to 754.5p, with an interim management statement that pointed to signs of life in its corner of the property market.
Reservations were up 14% in the period from 1 August to end of November, and the average selling price was up 7%.
Legal completions for the first half were up around 5%, due to a hike in the number of trading outlets, and its order book at the end of November was £458m sterling versus £440m a year ago, with 73% of its current annual target secured.
Bellway said it approved of recent moves by the government to kickstart the moribund housing market through a raft of measures such as the mortgage guarantee scheme, but added: ....
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