Bellway has reduced its spending on land in certain parts of the UK pending the result of the country’s protracted exit from the EU.

Announcing its half-year results, the housebuilder said that it had adopted what it called a “cautious approach” to land buying in recent months and temporarily slowed the rate of investment on a number of site acquisitions.

Bellway said it had agreed to buy 5,980 plots in the first half, down 11% on the same time last year.