Housebuilder Bellway maintained a positive view on the property market yesterday as it unveiled another set of record results.
The forecast-beating 21.4 per cent rise in profits to £205.5m was the 13th improvement in a row for the Newcastle group, which said its low selling prices - averaging £161,400 - helped its performance.
It added that five interest rate hikes in the past year had helped return the housing market to more normal conditions.
Chairman Howard Dawe said: ''We believe that if interest rates stay at around their current levels, which are still historically low, then we are confident that the market will be sustainable.''
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