Residential developer and FTSE 250 housebuilder under CMA scrutiny
Bellway has warned that short-term demand remains uncertain as building costs stay high and consumer caution persists. The Newcastle-based housebuilder reports 10.8% growth in housing completions to 9,695 in the year to July 31, with profits seen rising to about £320m. CEO Jason Honeyman calls for immediate government action to ease affordability, including stamp-duty relief and a deposit scheme for first‑time buyers. The company notes a spring trading boost but a cooling in demand since April.
Britain’s biggest housebuilders are facing a multibillion-pound class-action lawsuit after accusations they colluded on pricing, harming more than 700,000 buyers of new-build homes between 2015 and 2026. The claim seeks up to £4.5bn in compensation, with per-home payments estimated at £3,100-£6,200. The Competition Appeal Tribunal must approve the case before it proceeds.