Jason Honeyman

In a trading update, the FTSE 250-listed firm said it now expects to deliver between 8,600 and 8,700 homes in the financial year ending July 2025 — a modest increase from its previous guidance of around 8,500. The revised forecast marks a notable rise from the 7,654 homes completed last year.

Group chief executive Jason Honeyman said the company’s recent performance puts it firmly on track for increased volumes and profits.

“Bellway has delivered a solid trading performance, and we are on track to deliver strong growth in volume output and profits in the full financial year,” said Honeyman. “We have a healthy forward order book and outlet opening programme, which will serve as a platform for further growth in full year 2026.”

The firm reported a 7.7% rise in its forward order book, which stood at 5,759 homes as of 1 June. Private reservations and future orders have also strengthened over the past four months, the company said.

Bellway now expects its average selling price for the year to come in at around £315,000, an increase from the previous estimate of £310,000, due in part to higher demand for larger, more expensive homes.

Honeyman expressed optimism about the outlook: “I remain confident that, supported by the group’s operational strengths, land bank depth and an increased focus on cash generation and capital efficiency, Bellway can capitalise on the positive fundamentals of our industry and deliver volume growth, improved returns and ongoing value creation for shareholders.”

Russ Mould, investment director at AJ Bell, said the update points to a more favourable environment for UK housebuilders, helped by a slight easing in borrowing costs and persistent housing demand.

However, he also cautioned against reading too much into the higher selling price and reservation figures.

“The increased guidance for average prices reflects a change in the mix – amid robust demand for larger, more expensive homes – rather than a broader uptick in values,” Mould noted. “The reservation rate was also boosted by an increase in bulk sales rather than selling more to individual purchasers.”

Despite these caveats, Bellway’s spring performance and upgraded forecast signal growing stability in the housing market after a period of uncertainty linked to economic and interest rate volatility.