Bellway exceeds home completions guidance and reports profit growth

Housebuilder Bellway has reported exceeding its completions guidance, building 9,695 homes during the financial year ending July 31, 2026. This represents a 10.8% increase from the 8,749 homes completed in the previous year. The company expects underlying profit to rise to approximately £320 million, up from £303.5 million, and has announced plans for a £50 million share buyback program following the completion of a current £150 million program.

Despite the growth in volume, Bellway warned of an uncertain short-term outlook due to building cost inflation, high mortgage rates, and consumer caution. Chief Executive Jason Honeyman has called on the government to implement an immediate reduction in stamp duty and introduce a government-backed deposit support scheme for first-time buyers to stimulate demand and improve housing access.

The company noted that while there was positive trading in early spring, customer demand has moderated since April in response to rising mortgage rates and budget uncertainty.