Bellway homes in on off–plan profit
A JUMP in the value of unbuilt houses snapped up by buyers has put builder Bellway on course for higher profits.
Off-plan homes are on the rise
The firm said the worth of "off–plan" houses had increased by 24.5 per cent to £975million in the six months to January 31.
The number of completions rose by 15.7 per cent to 3,754 – with a "particularly strong" performance in the North where sales soared 23.6 per cent to 1,822.
The average selling price rose three per cent to £219,000.
Bellway upped its investment in land to £355million from £240million on the previous year and plans to open a sixteenth division.