Builder’s sales on rise

SHARES in Bellway climbed after the builder posted an 8.7pc rise in halfyear profits to £313.9m.

The company sold 5,007 homes in the six months to January 31, a rise of 5.6pc, while average selling prices increased 6.5pc to £293,832.

The announcement sent shares up 2.2pc, or 65p, to 3065p. Around 36pc of homes were sold with support from the taxpayerfunded Help to Buy. Housing Secretary James Brokenshire has warned developers they risk being thrown out of the loan scheme if they do not tackle problems with new homes.

He said: ‘Buying a home is one of the biggest financial and emotional investments For that to go from being a cherished dream to a nightmare is unacceptable.’ Bellway was awarded five stars in the most recent building survey, the highest rating.