LONDON (dpa-AFX) - Bellway PLC (BWY.L), a residential property developer, Tuesday, in its trading update for the year ended July 31, said it completed sale of 7,5222 homes for the fiscal 2020, compared to 10,892 homes in 2019. The Group attributed the decline in sale to the impact of Covid-19 on its business operations.
The number of housing completions for the year fell by 31% to 7,522 from 10,892, as a result of temporary groupwide site closures during the Covid-19 lockdown period.
The average selling price of completions was about 293,00 pounds versus 291,968 pounds last year, with the proportion of lower value social completions remaining unchanged at 22 percent.
Overall, for the financial year, reservations averaged 178 per week, a decline of 15.2 percent from 210 per week last year. Selling prices have remained firm, with no discernible movement throughout the year, the Group noted.
Looking ahead to the next year, Bellway said it has a strong forward order book, comprising 6,588 homes, with a value of 1.760 billion pounds.
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