Housebuilder also reports 5% rise in average selling price

Housebuilder Bellway has seen a 19% increase in its weekly sales rate in the last four months when compared to the last year, it reported today.

The firm also reported a 5% increase in average selling price to 拢190,400 between 1 February and 31 May when compared to the same period last year.

It said it had achieved this despite reducing the amount of properties offered on a shared equity basis to 8% of reservations over the period. Although it added that other sales incentive schemes remained in place.

In a statement to the stock market it said: 鈥淎ssuming consumer demand and the availability of affordable mortgage finance remain unchanged, then the group鈥檚 capacity to grow geographically, combined with a strong balance sheet, mean that Bellway is well positioned to continue its three pronged strategy of increasing volume, average selling price and operating margin.鈥�

The firm added it had already achieved its target of a 5% growth in sales in the year to 31 July 2012, when compared with the previous year. Bellway said it expected to achieve an opperating margin of 11% over the year.

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