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Bellway says demand did not cool ahead of election
June 14, 2017 / 6:16 AM / 6 months ago

Bellway says demand did not cool ahead of election

LONDON (Reuters) - British housebuilder Bellway said demand for its homes did not slow in the run-up to a June 8 national election, bucking a trend which generally sees some buyers put off purchases ahead of the uncertainty of a vote.

A Bellway sign is seen at a housing construction site in London, Britain, February 5, 2017. REUTERS/Toby Melville

Bellway, which posted a 13 percent increase in reservations between February and June and said it expected full-year completions to increase by nearly 10 percent, said the snap election had not dampened consumer interest.

“Customer demand for new homes remains strong across all regions and has increased throughout spring, in accordance with the usual seasonal trend, unabated by any uncertainty in the weeks preceding the recent general election,” it said in a statement.

But it cautioned that Prime Minister Theresa May’s failure to win an outright majority had caused “a degree of instability” and there was “wider uncertainty” as talks to extricate Britain from the European Union begin.

Reporting by Costas Pitas, Editing by Paul Sandle

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