Peabody turnover down 11% due to reduced sales and site delays

Aerial view of Thamesmead. Peabody. Lendlease

Landlords scales back development and invests more in improving existing stock as it shifts to neighbourhood model

Peabody has posted an 11% reduction in its annual turnover.

The 108,000-home housing association, in its financial statement for the year to 31 March, reported total turnover of £989m, down from £1.1bn the previous year.

The group’s social housing lettings income increased from £711m to £768m, however its non-social housing activity fell from £260m to £92m. This included a £172m drop in market sale activity, from £200m to £28m.

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