<\/p>\n
Bellway is seeking more government support<\/p>\n
Bellway\u2019s chief executive has called for an immediate reduction in stamp duty alongside a government-backed deposit support scheme for first-time buyers to help stimulate demand.<\/p>\n
Jason Honeyman said both would ease \u201caffordability constraints\u201d and \u201caccelerate the delivery of much-needed new homes across the country.\u201d Stamp duty applies in England.<\/p>\n
His comments came in a trading statement in which it said there has been a moderation in customer demand since April in response to the rise in mortgage rates.<\/p>\n
Full-year underlying operating profit is expected at the lower end of its \u00a3320m\u2013\u00a3330m range amid elevated uncertainty from cost inflation and cooling demand.<\/p>\n
External pressures, including rising mortgage and energy prices, geopolitical tensions and UK political unpredictability, are clouding the outlook beyond the current financial year.<\/p>\n
Mr Honeyman, said: \u201cBellway has delivered a robust performance and growth in volume output, despite ongoing headwinds for our industry. Our sharp focus on operational improvement and drive for capital efficiency has provided resilience and supported a strong increase in cash generation and shareholder returns.<\/p>\n
\u201cThe board remains confident that, with supportive market conditions, Bellway is in a strong position to capitalise on future growth opportunities. <\/p>\n
\u201cHowever, with the near-term outlook remaining uncertain, we call on the Government to act now to improve access to housing across all tenures, both by helping first-time buyers onto the property ladder and supporting the delivery of affordable and social housing for those who need it most.<\/p>\n
\u201cIn order to ease affordability constraints and stimulate demand, an immediate reduction in Stamp Duty alongside a Government-backed deposit support scheme for first-time buyers would both drive economic growth and accelerate the delivery of much-needed new homes across the country.\u201d<\/p>\n
\t #Bellway #chief #calls #housebuilding #stimulus #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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