Bellway sales hit by government cuts

first_img Housebuilder Bellway reported full year results in line with expectations with uncertainty around the government’s spending review hitting sales.“Sales in the early part of what is traditionally an active autumn selling period have picked up, albeit only slightly, following the usual summer lull,” chairman Howard Dawe said.“It seems that potential homebuyers are awaiting the outcome of the Comprehensive Spending Review,” he added.A stagnant housing market will add to the gloom of the coalition government’s austerity measures, with spending cuts to be announced on Wednesday.Bellway, the UK’s fifth largest housebuilder by market value, reported a pretax profit of £44.4m in the 12 months to end July compared with £29.8m in 2009.Market expectations had ranged between £41.5 and £49m.Fears of a slowdown have been cemented in the past month as weak house price data has reinforced anecdotal stories of a stagnant housing market.House prices suffered their sharpest fall in 16 months in September according to the Royal Institution of Chartered Surveyors, as home owners rushed to sell before painful public spending cuts kick in next year.This came a week after mortgage lender Halifax reported the sharpest drop in house prices on record in September. John Dunne More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comPuffer fish snaps a selfie with lucky divernypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Bellway sales hit by government cuts whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timescenter_img Share Tags: NULL Tuesday 19 October 2010 3:41 am whatsapp Show Comments ▼last_img

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