Bellway became the latest housebuilder to report record sales yesterday amid few signs the property market has slowed in the face of new mortgage rules.
The company has 18 sites in Scotland including developments in Tayside, Fife and Clackmannanshire.
It sold 6,851 homes in the year to July 31, a rise of 21% on the year previous, while average selling prices lifted 10% to £213,000.
The group said it had seen little effect of recent interventions to calm the housing market as it posted record housing revenues of £1.5 billion, a 33% increase on the previous 12 months.
The firm’s forward order book jumped 36% to £924.3 million during the year, giving it the confidence to shell out a record £460m to increase its land bank.
Bellway said its local operating divisions had done well during the year but its London business was the star performer.
CEO Ted Ayres said: “The group has reacted positively to the continued strength of the UK housing market, significantly increasing output to satisfy customer demand.
“The favourable trading environment, together with the group’s national presence and strong balance sheet, ensures that Bellway is well positioned to continue its growth strategy and this, together with a strong focus on return on capital employed, should lead to further enhancements to shareholder value.”
Brokers at Panmure Gordon said Bellway had shown “good levels of growth in volumes, average selling prices and forward sales.”