-Homebuilder Bellway on Tuesday lowered its outlook on average selling price for the next year, and reported a rise in housing revenue in 2022 as it benefited from strong house prices.
The Newcastle-based company now expects average selling price to be over 300,000 pounds ($362,550.00) in the year ending July 2023, compared with 314,400 pounds in 2022.
British house prices rose at a slower pace in July from June, figures from mortgage lender Nationwide showed last month, in fresh signs of a potential cooling in the market.
The country's housing sector is also struggling with a surge in build costs, labour shortages, and supply chain snags. Last month, bigger rivals Barratt and Persimmon flagged pressure on completions.
Bellway, founded in 1946, saw a 10.5% growth in housing completions to 11,198 homes, above its target of 11,100 homes.
Housing revenue for the year ended in July 2022 rose to more than 3.5 billion pounds ($4.23 billion), compared with 3.1 billion pounds a year ago.
($1 = 0.8275 pounds)