Bellway Warns of Slowing Demand and Rising Costs
The British homebuilder reported a 6.2% drop in private reservations as higher mortgage rates and energy prices weigh on the sector. While maintaining 2026 profit targets, the company declined to provide a 2027 outlook due to geopolitical and economic uncertainty.
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BELLWAY PLC warned Tuesday morning that customer demand cooled and input costs rose due to higher energy prices. The builder maintained fiscal 2026 targets despite private reservations falling 6.2% between February and May. Rising mortgage rates and supply chain pressures threaten the United Kingdom government's 1.5 million home construction target.
