Bellway site visitors and reservations “encouraging”

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by Gill Montia

In a trading update covering the six months to the end of January 2011, Bellway has reported that it sold 2,332 homes, an increase of 85 units compared with the same period a year ago.

The average sales price of a property rose by around 8% year-on-year, to £168,000, but largely due to a change in mix as the developer continues its shift away from apartments towards more traditional two-storey homes.

The group spent around £130 million on land during the six months to end-January, up from £76 million a year earlier.

While site visitors and reservations were hampered by December’s cold weather, the volume of visitors and reservations has been “encouraging” since the beginning of January, Bellway reports.

The group has an order book of £402 million, representing 2,343 homes, of which 1,847 should legally complete by 31 July 2011.