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Builder Bellway shrugs off Brexit uncertainty as reservations rise

Reuters - UK Focus

LONDON, Dec 13 (Reuters) - Bellway (Frankfurt: 869646 - news) became the latest British housebuilder to shrug off the uncertainty created by the Brexit vote as it said on Tuesday that its reservations rate rose 7 percent during the four months since August.

Reservations, which involve a buyer paying a fee to take a property off the market, rose in the 18 weeks to Dec. 4 and the firm said it expected to build five percent more homes this financial year.

"Customer demand for new homes continues to be robust," CEO Ted Ayres said.

"The strength of the underlying housing market supports further growth and this... ensures that the Group is well positioned to continue its disciplined growth strategy." (Reporting by Costas Pitas; editing by Jason Neely)