Demand for new UK homes still outstrips supply, say building firms

Bellway and Crest Nicholson report strong sales despite impact of cost inflation

Bellway and Crest Nicholson, two of Britain's biggest housebuilders, have said demand for new houses continues to outstrip supply, pushing up prices and offsetting the rising cost of building materials and energy.

Bellway posted strong sales for the four months from 1 February to 5 June, when house reservations averaged 253 a week, compared with 239 in the same period last year.