Housebuilder also ups completions and order book

Housebuilder Bellway has increased investment in land as it looks to capitalise on what it sees as a positive outlook for housing demand.

In a trading update for the six months to end of January, Bellway said completions rose 6.5% to 4,437 for the period, while its order book increased 9% to 拢1.1bn. Land investment was up by 21% to 拢380m.

Ted Ayres, chief executive of Bellway, said: 鈥淢arket conditions remain positive and accordingly Bellway is continuing to invest in a controlled manner, both in land and work in progress.鈥�

The firm added that 鈥渃ustomer demand continues to be robust and the purchase of a new home remains affordable, supported by a competitive mortgage environment and the continued availability of the Government鈥檚 Help to Buy scheme.鈥�

Bellway will publish half-year results next month.

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