Delivering the right homes, in the right places

We want to provide affordable homes for people left behind by the market, in the places where they’re most needed. Our ambition is to build between 1,500 and 2,000 homes each year.

The delays, plus materials and labour shortages, which had impacted our development programme over the past few years, have started to ease, although the significant increases in build costs placed pressure on the viability of schemes.

Despite this, the number of new homes we completed increased year-on-year and the number of new homes started was the highest we have ever achieved.

Highlights

625 homes completed (2021/22: 456):
- 167 affordable rent
- 264 shared ownership
- 194 outright sale
2,105 homes started (2021/22: 859)
4,128 homes due to be completed between 2023 and 2027.

Strategic partnership with Homes England

We were appointed as strategic partners to Homes England for the second time this year. We’ve received an allocation of more than £230m to build 2,428 homes for shared ownership and social rent outside of London Work is already underway to deliver this ambitious target.
Greater London Authority funds thousands of new homes

We were re-appointed as one of 53 strategic partners to the Greater London Authority (GLA) this year, to help deliver more homes as part of the 2021-26 Affordable Homes Programme. We’ve been allocated £164m, allowing us to build 1,181 more homes, split equally between social rent and shared ownership.
New homes in Brighton & Hove

The first homes to be built by Homes for Brighton & Hove, a partnership between ourselves and Brighton & Hove City Council, were completed ahead of schedule, in Portslade, at the beginning of 2023. Half of the 104 homes will be available for social rent for people on the council’s housing list, and half for shared ownership.
Halesworth and Newton Development Partners

We launched a partnership with AXA IM Alts and Homes England in November 2022. New development opportunities are being sourced for the development company, Newton Development Partners, and Halesworth, the For-Profit Registered Provider jointly owned by ourselves and AXA IM Alts. We expect Halesworth will acquire its first homes in 2023/24.
Maximise value from our property portfolio
This year, we continued to enhance and improve our portfolio, and to release charitable capital for reinvestment in maintaining homes and building more. Highlights include:
- £2.8m of annual savings by bringing management of our asset sales programme in-house and streamlining our processes
- Generating £30m of net capital from asset sales to reinvest in estate improvements and developing new homes
- Kick-starting our small sites development and Disposal programme, with two pilot schemes of EPC Band A affordable homes
- Launching a strategic asset management approach for our commercial properties and community centres that will improve community facilities, revitalise places and buildings, and deliver portfolio growth of more than 35%.