It came as fellow housebuilder MJ Gleeson posted 4.2 per cent revenue growth for the first-half to £157.9million, as it cited 'encouraging signs of a recovery in demand' with reservations rates up 45 per cent to 0.77 in the four weeks to 31 January.
Bellway house prices were up by around 0.5 per cent over the period and it expects to maintain current levels for the rest of the year, driving its operating margin from 10 to 11 per cent.
But Bellway share sank 5.5 per cent to 2,424p in early trading on Tuesday, while FTSE 100 rivals Persimmon, Barratt Redrow and Taylor Wimpey were down 2.4, 2.3 and 1.9 per cent, respectively.
The bank is forecast to cut base rate on another three or four occasions in 2025, theoretically helping to boost mortgage affordability, as inflation hovers around the 2 per cent target and economic growth stutters.
The Newcastle-based firm told investors its overall reservation rate per outlet soared 18.6 per cent to 0.51 homes in the six months to 31 January, as its forward order book climbed from around £1billion to more than £1.3billion over the year.
