Strong foundations: Bellway books sales hike despite Brexit caution

Housebuilder Bellway has posted rising half-year sales and profits, even as buyer confidence takes a knock in the face of Brexit uncertainty. The Newcastle-based firm, whose Scottish developments include Shawfair (above), near Edinburgh, booked a 12.4 per cent rise in revenue to £1.49 billion in the 26 weeks to 31 January, while profit leapt 8.7 per cent to £313.9 million. Bellway’s average selling price rose to £293,832 from £275,945 in the period. However, the cancellation rate rose from 11 per cent to 13 per cent.