Platform’s completions up by a third as it increases spend on development

Platform has increased its annual completions by 33%.

The west-midlands based housing association, in an unaudited update, said it completed 1,380 homes in 2025/26, up from 1,036 the previous year.

The provider also increased its spend on new homes by 14% to £328.7m over the same period and started work on 1,556 homes.

Platform, which manages more than 50,000 homes, reported a 2.9% increase in turnover to £374.5m.

Growth in social housing rental lettings income was offset by an £8.3m fall in shared ownership revenue, which it said was due to “tenure changes and delays caused by infrastructure and planning approvals from statutory authorities”. Platform’s operating surplus fell from £98.6m to £85.2m.

The group’s social housing lettings margin is 26.1%, which is below its ‘golden rule’ of 30%, which it said was due to investment in improving stock. It said it plans to meet the 30% level “in the coming years” but investment will impact margins in 2026/27.

Rosemary Farrar, chief financial officer at Platform, said: “The past year has presented a particularly tough operating environment for housing associations with changes to the regulatory requirements, economic instability and increasing cost pressures for us and for our customers.

“The business has focused on keeping down our costs, improving our services and investing in the quality of our existing and new homes.”

Housing Today’s Largest 50 Housing Associations table shows Platform was the 21^st biggest provider in the UK in 2024/25 by turnover. However it had the eighth biggest total for completions.