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June 10, 2011    

Bellway encouraged by rise in sales

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by Kay Murchie

Newcastle-based housebuilder Bellway has today said an uplift in consumer confidence has led to a rise in sales.

The housebuilder, which is the fifth largest by market value, said it had experienced a sales rate of 111 units per week in the four months to the end of May – 9% higher than the same period a year earlier.

Meanwhile, the average selling price rose 4% to £182,000 – boosted by more higher-value properties being sold close to the London area.

Furthermore, it achieved its target to boost the number of units it finished this year by 5% and has already secured 1,600 reservations for the 2011/2012 financial year.

In a statement, the group said: “The uncertainties that affected consumer confidence during the challenging autumn trading period appear to have diminished and, encouragingly, there has been a return towards a more normal reservation pattern with a healthy spring selling season, despite ongoing concerns remaining in the wider economy.”

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