BELLWAY said the UK housing market remained “resilient” ahead of the key spring selling season, but warned that the growth rates were set to slow.
The housebuilder sold 2,455 homes in the first half of the year – up five per cent on the same period in 2010 – while the average selling price climbed 8.7 per cent to around £183,000, thanks largely to a surge in private sales, which rose by 15 per cent.
Finance director Keith Adey said the group’s operating margin is set to reach double digits in the six months to 31 January, helped by the cheaper land bought since the 2008 crash.
However, he cautioned that margins would grow “at a more sustainable pace” going forward.
Bellway said visitor numbers to its sites gave “early indications” of a resilient market ahead.
