Bellway said it has increased revenue to a record £3.5bn, despite the planning system remaining ‘slow’.

The giant housebuilder, in a trading update for the year to 31 July, reported a 13% increase in revenue for the year from £3.1bn to £3.5bn.

It said it grew its housing completions by 10.5% to 11,198 homes, up from 10,138 the previous year, while its average selling price increased 2.6% to £314,400. This was higher than the 9,800 homes forecast earlier this year,