Aster invests record £124.6m in upgrading and maintaining existing stock during 2025/26

• £1 billion to be invested in existing homes over the next seven years
• 978 new homes delivered during course of the year
• Group reports turnover of £337.6m and a pre-tax surplus of £45.4m
• Aster also awarded £240m of government funding to support 1,320 new homes

Aster Group plans to invest £1 billion in maintaining and upgrading its customers’ homes over the next seven years, following record spend on its existing stock during its last financial year (year to 31 March 2026).

The housing association spent £124.6m on improvements across its 38,000-home estate in 2025/26 – an 8% year-on-year increase (2024/25: £115m) and its highest-ever total for a single annual period.

This included replacing more than a thousand windows and upgrading over 1,300 boilers, helping customers benefit from more energy efficient homes. The investments, coupled with Aster’s commitment to only building new homes at EPC B or above, means that almost 84% of its homes are now rated EPC C or higher.

The new investment pledge came as Aster published its audited accounts for the year to 31 March 2026, in which it generated turnover of £337.6m (2024/25: £329.9m) and a pre-tax surplus of £45.4m (2024/25 statutory profit before tax: £11.7m; underlying profit before tax: £42.3m).

Bjorn Howard, Group Chief Executive Officer at Aster Group, said: “Making sure our customers have quality homes they can be proud of, requires sustained, long-term investment. We’ve been able to inject more resources than ever into being there for our customers, while maintaining a consistent development programme, is testament to our financial strength and the amazing work done by our people.

“This strong financial performance has also provided the foundation for us to retain our G1 and V2 ratings for governance and financial viability and achieve a C1 consumer rating, reflecting our continued focus on delivering high-quality services and homes for our customers.

“Even in economically difficult times, our commitment and resilience to shape services and homes around the needs of our customers and that will support generations to come, is at the heart of every decision we make. Whether they’re living in one of our homes today or will become an Aster customer in the future. The investment we’re outlining demonstrates just that – it’s a promise to deliver for them and to have a positive impact on our communities.”

In the same year, the Group, which was recently selected as a Homes England Strategic Partner for the government’s Social and Affordable Homes Programme (SAHP), delivered 978 new homes including 105 for social rent, 365 for affordable rent, 32 London affordable rent and a further 412 shared ownership homes. Its future pipeline was also bolstered in recent weeks by securing a £240 million grant allocation through the SAHP that will support the delivery of 1,320 homes across the south of England.

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