Bellway PLC (LSE:BWY) reported stronger trading through the spring selling season, with improved affordability leading to higher reservation rates compared to the first half of the financial year.
Matching prior guidance, Bellway is on track to deliver around 7,500 homes this year with an average selling price of around £305,000, up from the previous guidance of £295,000.
“Bellway remains in a strong position to return to growth in financial year 2025,” said chief executive Jason Honeyman.
“The group's robust balance sheet and operational strength will enable Bellway to successfully capitalise on future growth opportunities."
However, the company said it is anticipating a “temporary impact to trading” in the run-up to the 4 July election.
“Notwithstanding this, the outlook is improving and there is cross-party political support for increasing the supply of housing across the country,” said Bellway.
“The long-term housing market fundamentals remain positive, and we are hopeful these will be bolstered by greater clarity over planning and housing policy beyond the upcoming general election.
A full-year trading update is due on 9 August.