Housebuilder Bellway has reported strong sales over the past five months and a 27.5% jump in its order book value to £2.4bn.
The North East-based developer also said that since last August it had secured land worth £926m, representing 13,496 plots, fewer than the 16,582 plots secured in the same period of 2021.
In an update to investors covering February 1 to June 5, Bellway laid out its expectation to complete 11,100 homes at an average selling price of £305,000 - a 10% rise on last year.
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Despite fewer potential plots being acquired, the developer said it expected further volume growth in 2023 to an annual output of around 12,200 homes.
In early April Bellway set out £300m of anticipated additional costs for sorting out cladding safety issues on buildings it had a hand in developing or refurbishing since 1992. The group recognised the costs as "significant" and said the sums - which are in addition to £186.8 million previously set aside - would be recognised as an adjusting item for the year ending July 31, 2022.
Investors were told that concerns over material availability had "generally eased" over the year, though shortages of bricks, blocks and roof tiles were sometimes occurring at a regional level. House prices continued to offset growing building costs, it said.
Jason Honeyman, group chief executive, said: "Bellway has delivered another strong trading performance and despite the wider macroeconomic uncertainty, the group continues to perform well. Demand is strong, reservations are ahead of last year and our order book remains substantial.
"Customer satisfaction is high and we enjoy continued success as a five-star homebuilder, as recognised in the HBF's Customer Satisfaction survey.
"The positive sales market and the further investment we have made in land provides a strong platform to enable the group to continue its growth strategy in the years ahead."
