Bellway Raises Full-Year Forecast for Housing Completions

British house-builder Bellway raised its forecast for housing completions in its fiscal 2017 year on Wednesday as it posted a year-on-year increase in reservations over the past four months against a backdrop of what it described as strong customer demand and good availability of mortgage finance.

Reservations for homes in the period between February 1 and June 4 increased by almost 13% from a year earlier despite uncertainty in the run-up to Britain’s general election last week, the Newcastle, England-based homebuilder said in a trading update. The company secured 221 reservations per week during the period, compared to 196 per week in the same period a year earlier. “Robust market conditions, together with a clear operational focus, is enabling Bellway to continue increasing its contribution to the supply of much needed new homes,” Ted Ayres, chief executive of Bellway, said.

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