North-west landlord increases turnover
Your Housing Group has undershot its annual development target.
The 29,000-home association, in its annual financial statements for the year to 31 March, said it completed 400 homes in 2024/25, against a target of 480.
The group, which operates in the north west, said the construction sector “remains challenging” and was impacted by the principle contractor of its 67-home Watermills Road scheme in Newcastle-under-Lyme going into administration. Hodgkinson Builders’ social housing arm entered administration last year before its main brickwork and contracting division was sold to East Midlands Masonry Limited.
“Our development team has worked hard to restart construction early to mitigate whether damage and secure key subcontractors and we have signed a contract with MCI to take the site to completion,” YHG said.
YHG also said it is seeing delays at its 760-home Ten Acres Lane scheme to regenerate the former Jacksons Brickworks in Newton Heath, Manchester, as it sought to satisfy Environment Agency requirements relating to remediation off the site. It is hoping to start work next year.
However YHG has built nearly three-quarters of the 1,969 homes it is delivering through a strategic partnership with Homes England and it currently on-site on 599 homes.
It hadn’t anticipated starting any homes in the year due to the year being “uncertain” for social housing in relation to grant availability with a new government, however it started 38 homes in a project with the support of Wigan Council.
YHG acquired 112 homes from L&Q in Partington, Trafford, Greater Manchester,
YHG increased its turnover 5%, helped by a 7.7% social housing rent increase. It reported a deficit of £44.6m, as it was forced to record an impairment of £46m relating to the value of properties identified for divestment.
YHG said its overall tenant satisfaction increase by 1% to 75% and it showed improvements in 10 of 12 tenant satisfaction measures. The housing association invested £12m in improving building safety and £13m in improving existing homes.
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