In a third consecutive year, Orbit has surpassed build targets and developed 2,002 new homes in the operating period 1 April 2017 to 31 March 2018.
The developer completed the homes throughout its operating areas across the Midlands, East Anglia, the South-East and London, with a revenue increase of 23 per cent.
Recognised as one of the UK’s largest house builders in the social housing sector, the 40,000-home landlord has achieved a record 103 per cent increase in shared ownership sales in the last two years. In 2017, Orbit sold 692 properties under the increasingly popular homeownership option.
Of the 2,002 properties completed in the last 12 months, 174 were for market sale, 539 for shared ownership and 1,207 for affordable and social rent. Orbit also ventured into the Private Rented Sector with the completion of Fordham House, a development of 82 high-quality apartments in the heart of Stratford-upon-Avon.
John Carleton, Executive Director of Property Investment at Orbit, said:
“I am delighted to see Orbit achieve a record performance for the third consecutive year having now completed 8,000 homes since April 2013, putting us firmly on track to reach our 12,000 new homes by 2020 target.”