Bellway (BWY) has already indicated that trading in the year to July was extremely robust. Completions are expected to have risen by over 21 per cent to 6,850, with a change in the geographical mix towards the more prosperous South East lifting average selling prices by £20,000 to £213,000. With the forward order book up by more than a third at a record £924m, the good news on completions should continue.
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Around £460m has also been spent on acquiring new land, securing sites that meet or exceed the group’s minimum acquisition criteria. Despite this outlay, Bellway expects to report a net cash balance.
