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Housing Today
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Stonewater increases development 23% as it boosts spend on new build
Surplus doubles due to one-off merger gain but repair costs rise
Stonewater has increased its annual development by 23%.
The Leicester-based housing association, in its financial statements for the year to 31 March, said it completed 1,185 homes in 2023/24, up from 963 the previous year. This was however lower than its 2022-30 strategic plan target in to deliver 1,500 new homes per year.
The group spent £248m on development in the year, up 28% on the £194m it spent the previous year.
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