Clarion Housing Group increased its home completions by 12% over the past year, delivering 1,727 homes compared with 1,538 the previous year. However, it fell short of its revised target of 1,828 completions for 2024/25.
The group’s future development pipeline now stands at 20,173 homes, up slightly from 19,694 a year earlier. Clarion, which manages around 125,000 homes, had previously scaled back its ambitions amid cost pressures, lowering its target from 2,161 to 1,828 completions for the year. Despite this moderation, it maintains a longer-term goal of building 3,000 homes annually.
Spending on new homes dropped from £501m to £439m, mainly due to delays starting larger projects. Investment in existing properties also declined slightly, from £129m to £123m.
Turnover rose 9%, reaching £1.1bn, while the operating surplus, excluding one-off items, grew from £171m to £195m. Clarion attributed the revenue increase partly to the return of inflation-linked rent rises, following the lifting of the previous year’s 7% cap.
The group also cited early benefits from its Connect transformation programme, aimed at tightening cost control and enhancing customer service. However, Clarion flagged a forthcoming £20m building safety provision in its final accounts, which will weigh on its overall surplus. It is seeking to recover some of these costs from third parties. Audited financial statements are expected to be published this summer.
