Vivid builds more than 1,500 homes for the second successive year

Vivid has again completed more than 1,500 homes and increased its surplus.

The Hampshire landlord, which has risen in recent years to become one of the biggest developing housing associations despite managing only 37,000 homes, completed 1,505 homes in 2024/25.

This is in a similar level to the 1,524 homes completed last year, which was the highest since the group was formed through a merger of First Wessex and Sentinel in 2017.

Vivid is planning to increase this to 1,600 in 2025/26.

It said the high level of completions reflects the benefits of its shift towards a land-led approach - in which it purchases the land and manages the whole project from design to completion working with a local supply chain – as opposed to section 106 purchases from housebuilders.

The group increased its turnover 14% from £357.9m to £407.5m. Its social housing lettings income increased by £29m while its open market sale revenue jumped from £56.2m to £91.4m.

>>See also: Local focus, efficient growth: Vivid boss Mark Perry explains how the Hampshire landlord became one of the RP sector’s biggest builders

Vivid also posted an increase in surplus from £53.8m to £61.9m.

Mark Perry, chief executive of Vivid, said the group’s focus over the past year has been on improving its repairs service, customer communication and complaint handling. He said the average time to complete a non-emergency repair is now 18 days and there has been a 20% increase in customer logins to their online account.

Vivid’s spend on major repairs has increased from £11.7m to £19.6m. Perry said Vivid invested £100.2m in existing homes overall, including repairs and maintenance, major works, building safety, and sustainability, its highest ever total.