Trusted media brand of the Chartered Institute of Housing
Trusted media brand of the Chartered Institute of Housing
Landlord increases projected spend on existing stock from £500m to £770m over the next 10 years
Notting Hill Genesis (NHG) has announced is cutting its annual development from around 1,000 homes a year on average to 600 homes as it redirects spend towards improving existing homes.
The 60,000-home provider, in an unaudited trading update today for 2023/24, said inflation and interest rates have “altered the economics for development, particularly for not-for-profit organisations.”
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