Manchester-based housing association has started work on more than 1,000 homes in 2025/26
Great Places Housing Group has significantly increased its starts year-on-year and exceeded its surplus expectations in the first nine months of the financial year, it has said in a trading update.
The Manchester-based landlord, which manages 27,000 homes, said it started work on 1,088 homes in the nine months to 31 December. This is up from 419 in the same period the previous year. It said a further 634 homes will start in the coming months.
The group also reported its pre-tax surplus in the period was £21m, £3m better than it budgeted, which it said was due to net interest savings.
Its drawn debt has increased from £798m to £921m. Great Places has in the period agreed a new £200m bond through the Affordable Homes Guarantee Scheme and drew down £100m of this which will be used to deliver 650 affordable homes.
The group said its shared ownership homes are selling on average within 8.6 weeks of handover, ahead of target.
Great Places’ 498-home Riverpark scheme in Newton Heath was approved by Manchester City Council in December.
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