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Bellway has reported early indications of a recovery in UK housing demand as the spring selling season begins, after economic uncertainty dampened buyer activity in the autumn months. Affordability pressures and concerns linked to the autumn budget reduced first-half sales and the forward order book. Improved clarity on property taxes and stamp duty has helped restore buyer confidence. Although reservation rates and the order book remain lower year-on-year, Bellway expects planning reforms and stabilising sentiment to support home deliveries of about 9,200 units this financial year.
UK-based homebuilder Bellway has indicated early signs of improvement in housing demand as the key spring selling season gets underway, following a subdued autumn period marked by economic uncertainty. The company said softer buyer sentiment in the previous months had weighed on sales performance during the first half of its financial year. Advertisement
Private buyers had remained cautious due to affordability pressures and uncertainty surrounding the government's autumn budget, which affected reservation levels and reduced the forward order book. Concerns over potential changes to property-related taxes and stamp duty had kept several buyers on the sidelines, impacting overall market momentum.
Market sentiment has since shown signs of stabilising after clarity emerged on property taxation and stamp duty policy, improving buyer confidence. This shift has raised expectations that deferred purchase decisions may begin to convert into actual demand as spring progresses.
Bellway also pointed to recent government planning reforms introduced late last year, which are expected to accelerate approval timelines and support higher construction activity across the sector. These reforms are viewed as a structural positive for homebuilders facing supply-side constraints.
During the first half of fiscal 2026, the company's private reservation rate, including bulk deals, declined to 0.47 homes per outlet per week, compared with 0.51 in the same period a year earlier. The forward order book stood at GBP 1.24 billion as of the end of January, lower than GBP 1.31 billion reported a year ago. Despite this, Bellway maintained its guidance to deliver around 9,200 homes by the end of the financial year ending in late July.
Source Reuters
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