Bellway has reported a “robust first half performance in a challenging market” as its completions and average selling price both increased.
In a trading update for the six months ending 31 January 2026, Bellway recorded 4,702 completions, up from 4,577 in the same period the previous year. It average selling price also rose, up to £322,000 from £310,581 year-on-year.
Bellway says that it remains on track to deliver its full-year volume output of around 9,200 homes, surpassing its previous year’s total of 8,749.
For the period, the housebuilder’s private reservation rate per outlet per week including bulk sales was 0.47, down from 0.51 year-on-year, while the figure excluding bulk sales increased marginally from 0.45 to 0.46.
Bellway’s forward order book dipped, however, comprising 4,442 homes at 31 January 2026 compared to 4,726 in 2025, with a value of £1,241million, down from £1,312million.
The group traded from an average of 244 outlets during the period, down from 248 the previous year, which Bellway says was in line with its expectations, with a closing position of 238 outlets as at 31 January 2026. It remains on track to open over 40 new outlets in the second half of the financial year and continues to expect to operate from an average of around 245 in FY26.
Jason Honeyman, chief executive of Bellway, commented: “Bellway has delivered a robust first half performance in a challenging market. Notwithstanding the current industry headwinds, our forward order book and strong outlet opening programme leave us well-placed to meet our targeted growth in volume output for the full year, and I remain confident that we can drive increased cash generation and shareholder returns in FY26 and beyond.”
“We welcome the government’s reforms to the planning system, however, to make meaningful headway against its ambitious housing targets, the government must also make an early commitment to ease demand-side pressures by introducing essential financial support for first-time buyers.”
Looking forward, Bellway said that it has seen clear signs of improving customer demand in the early weeks of the current spring selling season compared to the subdued trading environment through the autumn, and says that, while it remains mindful of the sensitivity of customer demand to mortgage affordability and the evolving economic backdrop, it has been encouraged by a pick-up in both reservations and leads for its sales teams.
