Bellway says southern divisions doing better

5th Jun 2009 07:13

Housebuilder Bellway said the southern based divisions have experienced a marginally stronger market and will see higher turnover by the year end than the northern based divisions whose markets still remain fragile.The group said net reservations since 1 February have continued to average 105 per week, securing the volume target of 4,200 homes.The summer selling season normally heralds a slow down in activity and selling homes in the early stages of construction is difficult, given the current lending environment. Nevertheless, the group's current order book of reservations for completion after 31 July presently stands at £228 million (£283 million - 31 May 2008). "With a further 9 weeks of selling to go, the Board aims to have 50% of next year's volume target secured as it enters the new financial year," it said.