Building more homes

We want to build the best homes we can and create places where people want to live, and can thrive. Those homes must be energy-efficient and climate-resilient, and we must ensure we’re making the most of our green spaces.

We’ve been able to continue to build, thanks to our mixed-funding model, that incorporates grant, debt funding, partnerships, joint ventures and investment capital from institutional partners.

We started construction of 823 homes this year, fewer than the all-time high of 2022/23, but we’re still aiming to deliver an average of between 1,500 and 2,000 homes each year. We completed 630 homes in 2023/24 (2022/23: 625).

Five years ago, about 25% of our development programme was affordable. Now most of our developments are 100% affordable, built to EPC Band B (SAP 81) or higher ratings.

Highlights

630 homes completed (2022/23: 625):
- 202 affordable rent
- 348 shared ownership
- 80 outright sale
823 homes started (2022/23: 2,105)
4,760 homes due to be completed between 2024-28

Working with our local authority partners

We’re working with our local authority partners, and like-minded investors, and continue to deliver new affordable homes successfully through our partnerships with Homes England and the Greater London Authority (GLA). We have an allocation of more than £230m from Homes England to build 2,428 homes, and £164m from the GLA to build 1,181 homes across London between 2021 and 2026.
Actively managing our portfolio

We continue to actively manage our property portfolio, to ensure we are getting the most value out of it, now and in the future. We identify opportunities to repurpose tired and obsolete stock, build new homes on land we already own, and sell homes that no longer meet our customers’ needs, to release capital for reinvestment.
Homes for Brighton & Hove delivers first two schemes

Homes for Brighton & Hove, our partnership with Brighton & Hove City Council, was set up to provide much needed low-cost homes for people in the city. The partnership’s first two projects – Clarendon Place in Portslade and Denman Place in Brighton, were completed this year, delivering 346 council rent and shared ownership homes. The homes are designed to be highly energy efficient, which will help keep energy bills low for residents.
Highly sustainable homes for Yapton

We began handing over the first of 250 homes at our Wildbridge scheme in the village of Yapton, West Sussex in March 2024. This highly sustainable development of EPC A rated homes is being built using timber frame construction. We’ll also be providing electric vehicle charging, new play areas and new green spaces. Additional tree planting and landscaping will help maintain and enhance biodiversity. The development is due to be completed in early 2025.
Outstanding service – double triumph for Hyde New Homes

Hyde New Homes was awarded an Outstanding Achievement Award for customer satisfaction from independent market-research company In-house Research in March 2024. The Outstanding Achievement Award is based purely on our customers’ feedback. Hyde New Homes also achieved the In-House Gold Award for the eleventh year running, with 96.6% of customers saying they’d recommend Hyde New Homes to someone who was looking to buy a home like theirs.