Development completions up by nearly fifty per cent as we continue to invest
We have published our half year results, showing continued commitment to investment in homes, customers and communities.
Our Half Year Results Statement, published today, show that new homes completions were up to 662 for the half year, surpassing the prior half year figure of 451 by 47 per cent. This is part of a deliberate and continued strategy to help alleviate housing shortages in our areas of operation. New completions were all affordable tenures, with around a quarter being for social rent, a third for affordable rent and the remainder for low-cost home ownership.
Other notable highlights include:
- A continued improvement in customer satisfaction to 85 per cent (September 2024: 80 per cent), reflecting considerable investment over the last three years;
- Investment in existing processes and repairs to ensure compliance with Awaab’s law;
- Arrears trending down to 2.8 per cent (September 24: 3.2 per cent), following systems and process improvements;
- Affirmation of G1/V1 ratings with the Regulator of Social Housing and A+ Fitch rating, both shortly after the period end;
- A new £250m sustainable bond issue with a record low spread of 0.75 per cent, issued shortly after the period end.
Rosemary Farrar, our Chief Financial Officer said: “Our performance in the half-year continues to demonstrate financial resilience whilst improving outcomes for our customers and building more much needed homes. All of those new homes are for affordable tenures and all are highly energy efficient, helping to support those customers in need of genuinely affordable solutions to their housing requirements.”
The full statement can be viewed on our website here Reports and Publications | Platform Housing Group
Photo caption : Platform’s Half Year Results Statement shows that new homes completions were up to 662 for the half year, surpassing the prior half year figure of 451 by 47 per cent.