Bellway reservations rise

Published:  10 December, 2012

Housebuilder Bellway said reservation levels have improved, compared with a year ago, in a trading update covering the 18 week period to thew end of November.

It said customers' ability to access higher loan to value mortgage finance has improved slightly as a result of the continuation of the government's NewBuy mortgage indemnity scheme.

This has helped reservation levels, net of cancellations, to rise to an average of 100 per week, which is a 6% increase compared with the previous year.

So far in the current financial year the group has recorded 3951 sales, compared with 3748 a year ago, which represents 72% of its annual target.

Bellway anticipates that legal completions will increase by around 5% for the six months to end January next year.

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