You are viewing 1 of your 1 free articles
Clarion Housing Group has announced it completed more than 2,000 new homes in 2019/20, a 70% increase on the number of homes completed in the previous financial year.
According to a stock market update, the 125,000-home landlord completed 2,101 new homes between April 2019 and April 2020, compared with 1,243 in the year previous.
Of the 2,101 homes completed, 883 (42%) were for shared ownership, 729 (35%) were for affordable rent, 291 (14%) were for private sale and 198 (10%) were for social rent.
During the same period, Clarion started work on 2,572 new homes, compared with 2,663 homes started in 2019.
The organisation’s long-term development pipeline stands at 17,000 homes.
The group invested £565m in new homes in 2019/20, an 11% increase on the £510m spent in 2018/19. A further £99m was spent on its existing stock, while £16m was spent on fire safety work.
The total number of completions exceeds the target Clarion set in Inside Housing’s Biggest Builders Survey in June last year, which suggested the group was on target to build 1,742 new homes.
Clarion announced the numbers in a quarterly stock market update, which included information from its unaudited accounts for the financial year ending in March 2020.
According to the accounts, the association made an operating surplus of £290m, an increase of £8m in the previous year, while its full-year pre-tax net surplus was £161m, up £7m from £154m in 2018/19.
Richard Cook, development director at Clarion, said: “I am very pleased to have exceeded our target for new homes in the past 12 months. Working with delivery partners across the country, we are building good-quality and affordable homes at scale.
“Quality and affordability are integral to our development programme. We have only committed to schemes that meet our standards and ensure we partner with companies who share our passion for building mixed communities.
“While the next few months will bring uncertainty to our sector, Clarion has more than 100 years of history and our development team is well placed to continue to deliver sustainable growth in the number of new homes in the years to come.”