Help to Buy gives another sales lift to builder Bellway

HOUSE builder Bellway said the residential property market remained ‘robust’ last year as it reported a healthy rise in sales.

In a trading update, the Newcastle-based group said that housing revenue is expected to increase by more than 13pc to £2.5bn in the year ending July 31.

It said customer appetite to buy homes was ‘ unaffected by any uncertainty in the econ- omy’. Completions were up 10.6pc to 9,644, and Bellway added that the value of its order book rose 16pc to £1.3bn.

Chief executive Ted Ayres said: ‘A focus on delivering growth has helped Bellway to surpass last year’s record in respect of volume and operating margin.’

Bellway added that the market is supported by a good availability of affordable mortgages and Help to Buy.