Despite the difficult economic climate, we have reported improved financial performance compared to the same period last year.
Our shared ownership sales increased by 8% compared to the same period last year and our market sale performance has also improved significantly, with 13 sales in the first six months compared to just 1 in the same period last year.
We remain on track to achieve our overall target of delivering 8,000 new homes by 2035, with a development pipeline that continues to contribute towards an increase in the number of affordable homes available across Yorkshire and the Humber.
Andy Oldale, executive director of finance and governance, said:
“I am pleased that despite a tough economic climate, our financial performance has improved compared to this time last year.
“Our development programme has already delivered 273 new homes during the first six months of this financial year, and although we have had to adapt our programme to reflect economic reality, we remain on track to achieve our target of building 8,000 new homes by 2035.
“We are in a strong position to deliver on our strategy and ensure as many people as possible have a place they’re proud to call home.”
We have also successfully reduced the number of empty homes we have to their lowest levels since before the COVID-19 pandemic and we continue to improve the energy efficiency of our homes, with 82% now at EPC C rating or above.
Although inflation has decreased, the cost-of-living crisis is still affecting many people. Despite this we haven’t seen an increase in rent arrears as a result of the support our customers receive from our amazing tenancy and money coaches.
The economic outlook remains uncertain, and like others in the housing sector, we are facing higher costs, especially for reactive repairs. This is mainly due to the rising cost of materials and skilled labour. However, we have a clear plan in place to bring costs down by working closely with customers to reduce the number of reactive repairs and rolling out new systems and technology.