The government’s Your First Home scheme could slow down the housing market, according to housebuilder Bellway.

Bellway said the Your First Home scheme was a welcome addition, but that it was not a cure-all for the general market slowdown.

Bellway chief executive Jason Honeyman said on a call today: “While the government’s proposed Your First Home scheme has the potential to provide meaningful support for first-time buyer demand, the period ahead of its launch may influence the timing of purchasing decisions among some prospective customers.”

The housebuilder completed 9,695 homes in the year ending 31 July 2026, up from 8,749 in 2025.

Bellway’s 2026 gross profits were £497.8m, up 9% from £456.8m in 2025.

Operating profits for 2026 were £320.6m, up 5.6% from £303.5m in 2025.