Bellway lifts house price outlook after strong spring season
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 07 2024
0mins
Source: reuters
- Bellway Raises Annual Average Selling Price Forecast: British homebuilder Bellway raised its annual average selling price forecast due to strong trading in the spring season and improved affordability boosting customer confidence.
- British House Prices Stabilize: Data from mortgage lender Halifax showed that British house prices edged down by 0.1% in May from April, indicating market stabilization after a slowdown last year.
- Optimism Compared to Rivals: Bellway expressed more optimism compared to bigger rivals Taylor Wimpey and Persimmon in terms of trading performance and market outlook.
- Political Influence on Housing Market: Housing is a significant topic in Britain ahead of the general elections, with the Labour Party proposing to make a scheme for low-deposit mortgages permanent if it comes to power.
- Financial Outlook and Targets: Bellway's forward order book decreased, but with better pricing, they expect an increase in annual consensus operating profit. The company reiterated its annual home-build target and margin reduction goals.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
