Orbit Homes completed over 1,500 homes during 2014/15 and is on track to deliver a further 3,600 new homes by 2017.
Midlands-based Orbit will build 1,750 homes in 2015/16 across the tenure spectrum – 1,200 for affordable and market rent, 330 for shared ownership and 215 for market sale – and 1,900 homes in 2016/17 as it increases capacity to achieve 12,000 new homes by 2020.
As part of its 2020 vision, Orbit is now creating homes suitable for people at all stages of their lives and at all levels of income, and is actively supporting the Homes for Britain’s campaign to end the housing crisis within a generation.
With the third largest government-backed programme of affordable housing development of any housing organisation and a new £250 million public bond supporting land acquisition and development plans, Orbit expects to exceed its 2020 homes target substantially.
In two years since adopting the 2020 target, Orbit has completed nearly 2,400 homes and boosted its development capacity for the future significantly. It has also moved into new areas of provision, including market rent, and grown its market sale programme, using the profits to support more affordable development.
Sites have already been secured to produce a further 1,100 homes in the East of England, 2,200 in the South East and south London, and nearly 3,700 in the Midlands.
Paul High, Orbit Homes’ executive director, said “As a country, we are already failing one generation by not building enough homes, we cannot afford to fail another. Too many people, even those earning good salaries, cannot afford a decent home to rent or buy at the moment. Many more need a different home to meet their changing circumstances.
“Orbit’s aim is to maximise our contribution to ending the housing crisis by increasing supply as far as we can within our resources. We have really upped our game in the last two years, and we are keen to acquire more new sites, including for market sale, and develop more partnership deals and joint ventures.
“We are determined to play our full part in ending housing shortages and making sure every household in England has a high quality, affordable place to live.”