Bellway warned demand for new homes had ‘moderated in recent weeks’ as conflict in the Middle East and political turmoil in the UK take their toll.
Rising oil and gas prices since the outbreak of the war with Iran have pushed up mortgage rates, making home purchases more expensive for buyers.
At the same time, the cost of building homes is rising as the price of everything, from bricks and other materials to fuel and transport, increases.
Labour’s civil war has further clouded the outlook as uncertainty weighs on business and consumer confidence.
Separately, builder MJ Gleeson warned of lower profits after delaying a land sale due to the construction slowdown.
