UK housebuilder Bellway has reported stronger trading through the spring selling season, with improved affordability supporting an increase in customer confidence and reservation rates compared to the first half of the financial year.

The forward order book has increased from the level of 4,411 homes at the start of the current financial year. The forward order book at 2 June 2024 comprised 5,346 homes (4 June 2023 – 6,172 home.

The group is now fully sold for the current financial year and insists that given a strong outlet opening programme and healthy forward order book, the company is well-positioned to return to growth in financial year 2025.

A J Bell investment director Russ Mould commented on the latest trading update.

“Housebuilder Bellway is already seeing healthy appetite for its homes and says it is on course to return to growth in its financial year running to July 2025. The company referenced supportive policies from both main parties, suggesting it is relaxed about the outcome of next month’s election – even if it sees the possibility of a slowdown in activity around the date itself.”

He added: “The company and its peers will be hoping for a return to the trifecta of attractive supply and demand dynamics (likely given housebuilding volumes have dropped markedly of late), state support and cheaper mortgages.”