London, February 16, 2026, 12:14 GMT — Regular session
- Bellway shares slip in London trade as fresh UK housing data points to flat asking prices in early February
- Company disclosed another round of buybacks under its £150 million programme
- Investors turn to Bellway’s March 24 interim results for an update on spring demand and margins
Bellway (BWY.L) shares fell on Monday, giving back ground with other UK housebuilders after a cooler read on the housing market. The stock was down 1.26% at 2,832 pence by 11:47 GMT, after touching 2,808 pence; Taylor Wimpey and Persimmon were also lower. (London South East)
The pullback matters because housebuilders are heading into the spring selling season, when reservation rates and pricing tend to set the tone for cash flow and margins. A flat price backdrop can quickly force builders to lean harder on incentives, which hits profit per home.
Rightmove said asking prices were unchanged in the four weeks to Feb. 7, after a post-budget jump over Christmas and New Year. The property website also said the number of homes for sale was at an 11-year high for the time of year, while agreed sales were 5% below this time in 2025. (Reuters)
In its February house price index, Rightmove put the average asking price for newly listed homes at £368,019, down £12 from January. “With buyer choice remaining high, sellers will still need to come to the market at tempting prices,” said Colleen Babcock, a Rightmove property expert, pointing to heavy supply and steadying activity. (Rightmove)
Bellway also flagged fresh buybacks in a filing on Monday, part of a programme announced in October. It bought 16,253 shares on Feb. 13 at a volume-weighted average price of 2,797.20 pence and said the shares would be cancelled, taking total repurchases under the plan to 1,952,972 shares. (TradingView)
Last week, Bellway told investors it delivered 4,702 completions in the six months to Jan. 31 and stayed on track for around 9,200 home deliveries in the year to July 31. “Bellway has delivered a robust first half performance in a challenging market,” Chief Executive Jason Honeyman said, while urging steps to ease pressures on first-time buyers; the company also pointed to demand sensitivity to mortgage affordability. (Investegate)
The buyback gives the stock a steady bid in the background, but traders have been reacting more to what price data says about negotiating power — and how quickly builders may need to sharpen deals to keep sites moving.
But the downside case is straightforward: if supply stays high and mortgage affordability stops improving, the spring pickup can stall and incentives can creep higher. Flat prices also leave little room to absorb build-cost shocks or planning delays.
The next hard catalyst is Bellway’s interim results on March 24, when investors will look for a clearer read on spring reservation rates, the order book and how fast the buyback is running through its £150 million budget. (Bellwayplc)
