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Commercial Property

Bellway beats record for house completions and says market remains strong

The Newcastle based company also said it would work with the Government on cladding issues on apartment blocks

A Bellway housing development in Westerhope, Newcastle(Image: newcastle chronicle)

Housebuilder Bellway says it has seen a record number of new homes being completed as the housing market defied wider economic conditions to remain strong.

The Newcastle-based company has issued a trading update for the six months to the end of January in which its overall reservation rate rose 5.8% and it completed 5,694 new homes.

The average selling price of its homes rose 2.8% and is expected to be above £300,000 for its full financial year, it said.

Read more: go here for more North East business news

Bellway’s statement also addressed the fire safety issue facing many housebuilders in the wake of the Grenfell tragedy. The company said it “share(d) the Government’s general sentiment that the costs of correcting historical fire safety defects should not be borne by residents” though did not directly address the Government’s demand for a £4bn levy from housebuilders to take cladding off apartment buildings.

Bellway’s statement also makes only a passing mention of the supply chain and labour issues that many other housebuilders have commented on.

Chief executive Jason Honeyman said: “Bellway has delivered a strong first half performance, achieving record volume output and housing revenue, notwithstanding the wider economic challenges presented by labour, material and fuel shortages and Covid-19 related absenteeism.