Bellway says the key spring selling season will define its year
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House builder Bellway has reported a 7% fall in reservations for new houses, saying that consumers were less confident about the economic outlook.
"The demand side is now being affected by a lack of consumer confidence and the economy generally," Bellway said.
The fall was recorded for the four months to 30 November, and Bellway warned that it may now have to review its full-year earnings.
A lot would now depend on the key spring selling season, it said.
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The supply side of house building remains constrained by planning, product and construction starts
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Reports over the past month have shown that growth in the UK housing market has slowed down because higher interest rates and the impact of a global credit crunch that has made banks more wary about lending.
At the same time, Bellway said that "the supply side of house building remains constrained by planning, product and construction starts".
Bellway said it hoped to see "a small increase" in volume in the six months to end-January due to a rise in the number of outlets available in early 2008.
The company, which now employs 2,000 people in its 18 regional offices, has built more than 100,000 homes since founded in 1946.
During morning trade in London, shares in Bellway were down 0.5% at 896 pence.
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