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Abri still on course to meet 2030 development target despite 12% fall in completions
Large Southern housing association Abri said it was still on course to meet its 2030 development target, despite an 11.5% fall in completions year on year.
The 50,000-home landlord completed 900 new homes in 2023-24, down from 1,017 the year before. Of these 900 new homes, 731 are for affordable tenures, comprising 301 shared ownership homes and 430 homes for affordable and social rent. A further 169 homes were built for open market sale.
Abri’s in-house construction team built 37 homes and has another 274 homes under construction across six sites.
These 900 new homes include homes built by Abri and Silva, the Berkshire housing association that merged with Abri in October 2023.
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The housing association started 999 homes on site in 2023-24 and expects 5,347 to complete in the next five years.
A total of 3,744 homes are under contract for its upcoming pipeline. This puts it on course to meet its target of building 10,000 homes by 2030, Abri said.
Meanwhile, a total of 113 shared owners completed staircasing in 2023-24.
Abri has received £250m in grant funding from Homes England as a strategic partner under the Affordable Homes Programme 2021-2026. This partnership has seen 467 completed homes, 1,000 homes on site and a further 1,568 homes identified.
The housing association is helping to deliver around 2,500 homes through joint ventures. This includes a recent joint venture with Vistry to buy the former Ford Airfield in West Sussex, with plans to transform the site into 1,500 new homes.
Abri and Vistry are also partnering in Mid Sussex to build 120 homes at Sayers Meadow. Other joint ventures include 500 homes in Weymouth with Lovell; and 619 homes at Woodgate in Pease Pottage and 139 homes at Manorwood in West Horsley with Thakeham.
Last financial year, Abri received planning permission for a regeneration project in Windsor. Sawyers Close will see existing buildings demolished and 413 new affordable homes built.
Since April 2020, Abri said, it has spent more than £810m on its development programme.
Stephen Lodge, executive director of development and strategic asset management at Abri, said: “Abri wants to make sure that more people have access to a good-quality, warm and sustainable home. Building 900 homes last year has made a significant contribution to that goal.”
He added: “We have a strong pipeline that will help us meet our commitment to build more than 10,000 homes by 2030.”
Mr Lodge called on the next government to commit to a long-term plan for housing to build “urgently needed” homes.
In November 2023, Abri announced that it was exploring a merger with Octavia Housing.
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