Housebuilder Bellway reports an increase in revenue of 14% to around £1.3bn for the six months to end of January 2018.
The company also pointed to further volume growth, with a 6.3% rise in the number of housing completions to 4,741.
The average house selling price has risen by almost 7.8% to a record £276,000 (2017 – £256,140).
Bellway says a 7.2% rise in the weekly reservation rate has contributed to a strong forward sales position, with the value of the forward order book growing by 15.7% to £1,297m.
The company has made significant investment in land with 6,726 plots contracted (2017 – 6,287 plots) on sites with attractive rates of return.
In a statement to the stock market, Bellway insisted market conditions continued to be favourable and customer demand for new homes remained strong.
“Notwithstanding the modest increase in the Bank of England base rate in November, mortgage rates remain low by historical standards, ensuring that the cost of financing a new Bellway home remains affordable.”
The statement added:” This, together with positive Government support, including new measures such as SDLT relief for most first-time buyers, continues to provide financial support to purchasers and hence improve accessibility to mortgage finance.
Commenting on the latest numbers, John Watson, Executive Chairman, said: “Bellway is continuing to make a sizeable contribution to the supply of much needed new homes and has delivered a further increase in both volume and average selling price in the six-month trading period.
“Significant investment in land, together with ongoing plans to expand the divisional structure, should lead to a further increase in output and hence result in additional value creation for our shareholders.”