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Bellway says England Your First Home could lift annual output 10%

Bellway is targeting 9,000 to 9,400 homes for the current year, and expects shares to react as the program is rolled out.

Reported · Written up by our desk · Industry

Bellway’s chief said England’s new Your First Home help-to-buy programme for first-time buyers could increase the number of homes the British builder produces each year by 10%, though the market could slow in the run-up as buyers wait for the scheme’s launch, according to the Guardian Business.

The outlet reports that Bellway is aiming to build between 9,000 and 9,400 homes in the current year, and that housing has been elevated as a government priority amid a chronic shortage of homes.

Bellway executives welcomed the programme because it is more targeted than prior help-to-buy initiatives, including household income caps to exclude higher earners and price caps designed to limit purchases to modest houses.

The Guardian Business added that further details, including the launch date, are expected to be announced by John Healey in his first budget.

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