Southern Housing Group increased its turnover 19% last year.

The 30,700-home housing association, in its accounts for the 2021/22 financial year, reported turnover of £252.3m, up from £212m the previous year.

The increase was due largely to a more than fourfold increase in income from open market sales from £19.7m to £47.3m. The open market sales figure was boosted by the completion of the final phase of the group’s Lisgar Terrace scheme in Hammersmith & Fulham, which delivered 72 homes for private sale. The group reports a margin ‘in excess of 41%’ on open market homes. Turnover from social housing lettings increased marginally from £168.4m to £170.2M

The group’s surplus fell from £81.6m to £31m, but this was due to a £58.8m gain the previous year following the acquisition of small provider Crown Simmons. Its underlying operating surplus, which excludes one-off items, increased from £61m to £72m.