HOUSE BUILDER Bellway today reported 6.2% rise in sales as demand for new homes remains ‘resilient’.

The company also announced that chief executive John Watson, who has been with the Newcastle-based group for more than 30 years, will be stepping down from the top job and replacing Howard Dawe as as non-executive chairman at the start of February next year.

Ted Ayres, who joined the company 10 years ago, will take over the reins as chief executive.

Today’s trading update to the stock market also revealed a 6% rise in average selling prices from £175,613 to around £187,000 in the year to the end of July.

Bellway’s full year results will be published in October.