UPDATE 1 — UK's Bellway flags margin pressures in 2027 amid affordability and cost pressures
(Adds details from paragraph 2) Oct 13 (Reuters) — British homebuilder Bellway on Tuesday said it expects fiscal 2027 underlying operating margins to reduce further, squeezed by lower completions, rising mortgage rates and cost pressures amid the Middle East conflict. Rising mortgage rates and affordability concerns linked to the Iran war have prolonged the downturn in housing demand, while higher material and energy costs along with buyer incentives have further pressured homebuilders. The company is targeting completions between 9,000 and 9,400 in 2027, compared to 9,695 in the prior year, noting that customer demand has remained constrained by economic uncertainty. (Reporting by Simone Lobo in Bengaluru; Editing by Sonia Cheema) ((Simone.Lobo@thomsonreuters.com, +919920570373)
(Adds details from paragraph 2) Oct 13 (Reuters) — British homebuilder Bellway on Tuesday said it expects fiscal 2027 underlying operating margins to reduce further, squeezed by lower completions, rising mortgage rates and cost pressures amid the Middle East conflict. Rising mortgage rates and affordability concerns linked to the Iran war have prolonged the downturn in housing demand, while higher material and energy costs along with buyer incentives have further pressured homebuilders. The company is targeting completions between 9,000 and 9,400 in 2027, compared to 9,695 in the prior year, noting that customer demand has remained constrained by economic uncertainty.
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