Bellway sells more homes for more money

Bellway sold 6% more homes for more money in the year to 31 July.

In a trading statement issued to the City this morning, Bellway revealed that its legal completions were a new record of 7,001 homes with an average selling price of £165,000 (up from £161,400 in the previous year). However, the statement noted that this remains one of the lowest average selling rpices in the housebuilding industry.

The operating margin should be similar to last year's 19.5%. The statement also noted that increased use of selling incentives may erode this figure in the current year.

Bellway's order book stands at £513m. The group's full year results will be announced on 18 October.