Clarion’s turnover dips after sales nearly halve

However, the fall in sales was offset by higher rental income, the association said. 

Despite lower overall turnover, Clarion reported a boost to its bottom line that was helped by a £21.4m increase in surplus from disposals. 

Overall, the G15 landlord’s pre-tax net surplus, before fair value adjustments, rose by 17% year on year to £119.6m. 

This came despite the association’s underlying development surplus of £1.5m, which fell by £8.2m due to both “lower volumes and lower margins”, the update said.

It added: “This development performance reflects the wider challenges in the housing market.”

Like many large landlords, Clarion is spending more on is existing stock. In the year to date, its investment in homes rose by 45% year on year to £101.3m. 

The association said the increase “reflects earlier phasing along with continued progress on fire and building safety works, as well as energy efficiency and asset investment across the portfolio”. 

Clarion completed 1,000 new homes in the nine months, with 780 at affordable tenures. The figure is down from the 1,246 handed over in the same period last year.  

Its spending on development rose by around a fifth to £417.4m. The landlord’s pipeline now stands at 21,978 homes, which is up from 20,304 at the same point last year.

Drawn debt stood at £4.74bn as of 31 December 2025, up from £4.59bn at the same point in the previous year, Clarion said. 

The landlord currently has G1/V1/C2 grades for governance, financial viability and consumer standards with the Regulator of Social Housing.