Housebuilders are bracing themselves for another torrid week as industry data look set to add another dose of gloom to the ailing sector.
Following a tumultuous week on stock markets, investors are readying themselves for the first public indication of how the struggling industry is coping with further deterioration in economic sentiment and its reaction to the government’s banking rescue.
Bellway, Britain’s thirdlargest housebuilder by market capitalisation, reports results tomorrow. Its management is among the most respected in the sector and its trading statements have done little to underplay the housing crisis.
Any update on recent sales and volumes will be keenly scrutinised across the sector, which has not seen figures from a nationwide
housebuilder since Barratt Developments unveiled its preliminary results more than a month ago.