Home Group reports increased turnover and surplus

Home Group has reported an increase in turnover and surplus in its latest full-year results.

In a trading update including final results for the year ended 31 March 2025, the housing association reported £505m turnover, up from £493m.

This was driven largely by an increase in income from social housing lettings of £26.6m, which reflects a 7.7% rent increase implemented last April, as well as an increase in shared ownership first tranche sales of £13.1m. 

However, this was partly offset by a reduction in income of £30.9m from outright property sales, with lower volumes of homes being developed and sold.

The provider, which owns and manages more than 57,000 homes, more than 90% of which are affordable housing, also reported a pre-tax surplus of £34.7m, an £11.5m improvement on the £23.2m in the previous year

“Following a number of years with external challenges, the economic environment stabilised over the course of the financial year and this, combined with a focus on our strategic priorities, has resulted in a strong financial performance this year,” said Helen Meehan, chief financial officer.

Meehan added that the housing association had responded “positively and proactively to the challenges facing us”, including greater maintenance demand and increased regulatory scrutiny. 

Home Group delivered 1,437 new homes in the year, of which 766 are affordable tenures.

It said there had been strong demand for shared ownership homes in the period, with sales more than doubling in comparison with last year.

Interest cover fell slightly to 105.9% from 109.7%, which the group said reflected a higher level of investment in existing homes.