Housebuilder Bellway says the UK housing market recovery has “stalled” over summer, renewing its call for the government to reintroduce Help to Buy or a similar demand-side scheme to support first-time buyers.

Despite mortgage rates being lower than last year, Bellway said they have not fallen as quickly as expected.

Rising unemployment and concerns over future tax increases have also dented confidence, making it harder for new buyers to step onto the ladder.

The Times reports that the company joins a growing list of major builders – including Barratt Redrow, Persimmon and Taylor Wimpey – urging ministers to act if Labour is to meet its housing targets.

“The government needs to address the demand-side constraints facing would-be buyers,” Bellway said.

In the year to July 2025, Bellway delivered 8,749 homes, 1,100 more than last year and above earlier expectations.

This was helped by increased bulk sales to landlords and housing associations, and stronger-than-expected demand in spring. However, trading softened in June and July.

Average selling prices rose to £316,000 from £308,000, largely due to changes in location and mix, rather than market-wide price growth.

Revenue increased 17% to £2.76 billion, with operating profit margins expected to improve from 10% to about 11%. Analysts think this could push annual operating profit slightly above the £300 million forecast.

Chief executive Jason Honeyman described the results as a “solid performance despite ongoing headwinds” and expects to build around 9,200 homes next year if conditions remain stable.

Founded in 1946 and now listed on the FTSE 250 with a market value of nearly £3 billion, Bellway’s stance reflects wider industry pressure for government-backed buyer support. Without it, many in the sector fear the market could remain sluggish, particularly for first-time buyers.