Surplus steady at 47,000-home landlord as it invests more in existing homes
Orbit Group narrowly missed its development target for the first half of its financial year.
The 47,000-home housing association, in an unaudited trading update today for the six months to 30 September said it completed 353 homes against its initial target of 379. The figure for the half year was slightly higher however than the 341 built in the same period last year.
The group’s turnover fell slightly from £196m to £190.3m, but its operating surplus remained steady at £48.4m, compared to £48.3m the previous year.
Orbit increased its spend on existing homes in the period from £57.7m to £59.4m. The group said 88% of its homes are at Energy Performance Certificate band C or above.
A spokesperson said: “Despite the continued upward pressure on costs and challenging macro-economic environment, group turnover and operating surplus (excluding asset sales) are marginally above budget, and operating surplus percentage remains broadly in line with year-to-date budget parameters at 21.6%.
“We successfully completed 353 new homes in the period, and, despite a more challenging property market, forward sales activity remains encouraging. Market sales completions met expectations and shared ownership activity remained robust.”
Orbit is currently carrying out a five-year transformation plan called Everyday Excellence. It is rolling out a new neighbourhood housing management model, improving its customer segmentation and capturing of resident feedback and said next year it expects to roll out a “a new omnichannel customer experience”.
Largest 50 Housing Assocations 2025
For the first time and within less than two months since all the data was made public, Housing Today has published a full sortable table of the largest 50 housing associations in the UK according to their 2024/25 accounts.
Our interactive data table allows you to sort the providers by turnover, surplus, operating surplus, homes completed and homes owned and/or managed
We’ve analysed providers’ turnover, surplus, operating surplus, homes completed and homes owned and/or managed for the 2024/25 financial year.
Housing Today has dug into the data to show aggregated trends and which providers have shown the largest changes in their metrics year-on-year and why.
We’ve also pulled out key trends and talking points we’ve noticed from our reporting of financial statements over the past few months. Also find all our reports of HA accounts in one alphabeticised library. See below.
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