Thirteen delivers record number of new homes and reports further rise in customer satisfaction [Archived]

We have reported record investment, rising customer satisfaction levels and an increase in net surplus for a second consecutive year.

Thirteen Kedward Development In Middlesbrough Resized

30 Sep 2025

Our audited Annual Report and Financial Statements for 2024/25 show strong performance in a year that ended with us being awarded the top C1/G1/V1 grades by the Regulator of Social Housing.

We invested £114.1million in maintaining and improving properties (2024: £109.2million) and £135.6million in affordable new homes (2024: £133.8million). Both represent new highs.

A record 650 new properties were delivered (2024: 542) alongside an increased net surplus of £34.1million (2024: £29million).

Customer focus remained strong - we achieved an improved customer satisfaction score of 90.0% (2024: 89.1%) and helped 865 people into jobs and training (2024: 619).

Turnover was up on the previous year at £230.4million (2023: £207.3million).

Our Chief Resources Officer, Jane Castor, said: “In 2024/25 we put a lot of focus on embedding our new business strategy, which is all about achieving our vision to be the most trusted housing association, with happy customers.

“This is a really strong start. We’ve hit new highs in how many affordable new homes we’ve delivered and how much we’ve invested in maintaining and improving our existing homes.

“We’ve achieved a healthy 17.6% increase in net surplus and were pleased to see that our financial resilience and capacity was recognised with a V1 rating by the regulator.

“We’re consciously reducing our interest cover to release some of this financial capacity so we can further increase investment in new and existing homes, while maintaining the financial strength that underpins our long-term future.

“And we’ve delivered this while retaining our customer focus and recording another increase in customer satisfaction ratings.

“All in all, it’s a very strong set of results and puts us in a strong position as we seek to capitalise on the once in a generation opportunity presented by the government’s long-term commitment to fund the delivery of affordable housing.”

Read the full Annual Report and Financial Statements 2024/25.