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Evening Standard
Evening Standard
Business
Daniel O'Boyle

Housebuilder Bellway sees signs of recovery from tough 2022 as buyers adjust to new normal for mortgage rates

Bellway Jason Honeyman

Housebuilder Bellway saw private home reservation rates slump by more than 40% in 2022, but its CEO said trading has picked back up in 2023 as buyers get used to a new normal for mortgage rates.

Profit dipped by 2.1%, partly due to what CEO Jason Honeyman called “challenging operating and trading conditions in the period”.

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