The housebuilder's spring trading update has revealed a sustained improvement in private reservations compared to the first half of its financial year.

The housebuilder stated that should market conditions remain stable they would be well-placed to see a return to growth in 2025.

'Challenging trading conditions' over the past year have seen the housebuilder report a drop in the number of homes completed.

The housebuilder has forecast that completions will drop to 7,500 for 2024, compared to the 10,945 achieved in 2023.

Bellway is consulting on closing two of its divisions and reducing capacity in a third, as difficult market conditions continue.