Roland head shot

Hosted by Maynard Paton & Roland Head

PIP012 Maynard & Roland Discuss UK Housing Market Behemoth Bellway (BWY); Are Bellway Shares a Good Buy?


This time Maynard Paton and Roland Head discuss UK housing market behemoth Bellway (BWY) and whether Bellway shares are a good buy right now.

Bellway is a UK residential property developer founded in 1946 and is listed on the FTSE 250 Index.

Roland has recently purchased Bellway shares at £17.00. Roland shares in detail the reasoning why he bought Bellway covering the long track record of the dividends, the 6% yield annualized, no debt with cash in the bank, and the outlook for the UK housing market.

As always, Maynard forensically examines the annual reports, and the financials and even compares the most recent accounts to the accounts from 2007/08 to see if there are any similarities to the present-day housing market concerns.


1:20 Discussing Roland’s buy price.

2:45 Discussing why Roland bought Bellway.

5:00 Discussing how Bellway home sales and the cyclical nature of home sales.

6:30 Discussing the long track record of Bellway and 6% yield annualized.

8:45 Discussing the annual reports from the 80s looking at how much homes sold for in the 80s.

9:20 Discussing whether Bellway’s share rise is a result of house price inflation since the 80s.

13:00 Discussing the finances and cash flow of Bellway.

16:45 Discussing Bellway’s balance sheet.

18:20 Discussing Bellway’s land bank.

20:45 Discussing what could go wrong, could we experience another 2007/08 crash?

24:50 Discussing the management.

26:20 Discussing the management’s remuneration package.

29:00 Discussing Bellway’s order book and future projections.

32:20 Discussing Bellway’s share buyback programme.

34:30 Discussing the housing and mortgage market.

36:20 Discussing the forecast dividend cut.

37:20 Discussing the current low valuation of Bellway.

38:50 Closing thoughts and wrap up.

Thank you for listening, we hoped you enjoyed the episode.

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Disclaimer: This presentation is for educational purposes only. All opinions and information are for demonstrational purposes and do not constitute investment advice. Trading and investing carries a high level of risk and are not right for everyone. If you need financial advice, consult with a regulated financial adviser in your country before making any decisions.

Maynard, Roland & Bellway Resources: