investing in the land bank

It spent 208m on new land in the year to the end of July, and believes this will help ensure it is ready for the upturn – when it comes.

Despite this, Bellway is not replacing land at the rate it is building on it.

Its bank of plots with planning permission dipped nine per cent to 17,602, although it has increased its land bank awaiting planning permission from 14,000 to 15,000 plots.

Based on this, its total land bank gives Bellway about seven years’ supply, which does not include its 3,000 acres of long-term holdings.

Since July, Bellway has increased its number of show homes, revamped its website, and hopes to increase sales outlets to 200 by the spring.

“Divisions have released more homes to build.

“We therefore anticipate that work in progress levels will increase as the year progresses,” said the com- pany.