Housing association to reduce development to 600 homes a year

By Carl Brown2024-06-28T07:48:00

Landlord increases projected spend on existing stock from £500m to £770m over the next 10 years

Notting Hill Genesis (NHG) has announced is cutting its annual development from around 1,000 homes a year on average to 600 homes as it redirects spend towards improving existing homes.

The 60,000-home provider, in an unaudited trading update today for 2023/24, said inflation and interest rates have “altered the economics for development, particularly for not-for-profit organisations.”

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