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Homebuilder says government scheme supporting demand for new build
Thursday 27 Oct 2016 Author: William Cain

Home builder Bellway (BWY) says selling volumes and prices in the London market are being supported by Help to Buy, a government incentive scheme for first-time buyers.

Around 39% of Bellway’s customers which made reservations in the capital used the scheme according to Ted Ayres, chief executive officer. Bellway’s projects are mostly in the more affordable suburban regions of the capital, with an average selling price of £377,000, insulating it to an extent from some of the aggressive price cutting at the luxury end of the market, Ayres claimed alongside full-year results. Three-quarters of the builders’ operations are outside London.

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