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Bellway turns up the volume

The housebuilder believes annual completions can hit 18,000 later in the decade
Bellway turns up the volume
  • Post-tax return on equity climbs to 12.4 per cent
  • Housebuilder sets two-year £1.25bn profit target  

“Will housebuilding volumes in England recover to pre-pandemic levels?” asks Savills in a research note published this month. With interest rates set to rise and various sources of state support unwinding, it’s a question many investors in the sector will have pondered, too.

The estate agent’s best guess is that pre-Covid completion volumes won’t return until 2026, when build to rent, shared ownership and First Homes schemes finally fill the gaps left by Help to Buy. Even then, Savills estimates the industry will fall a fifth short of the government’s commitment to build 300,000 new homes a year.

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