Aster Group sets target of almost 3,000 homes by 2023

Aster Group plans to build 2,980 new homes by the end of 2023, after completing significantly more than forecast during the pandemic.

Despite widely reported construction and global supply chain challenges caused by COVID-19, the housing association delivered 928 homes across the year to the end of March 2021 – almost 200 more than predicted at the start of the pandemic. The Group exceeded its estimated figure thanks to construction productivity levels picking up more quickly than its teams predicted and represents an investment of £160m in new housing projects over the last 12 months.

Of the 928 homes, 478 were for social or affordable rent and 339 for shared ownership. The remaining 111 were built for open market sale.

Aster contracted sites in several new local authority areas for the first time in 2020/21, including Reigate and Banstead, Surrey, and Cherwell, Oxfordshire. The news comes as Aster makes the top ten in Inside Housing’s Top 50 Biggest Builders ranking for 2021 – up three places from the previous year.

Other key sites include a 130-unit development at Kilnwood Vale, in Horsham, which has 65 sales already agreed and is the latest project to be delivered through Aster’s joint venture with Vistry Homes. A 90-home CG Fry development in Poundbury, Dorset also handed over 30 new homes in 2020/21 and Chagford, a Community Land Trust (CLT) development of 28 homes, Aster’s first National Park development, was also completed and handed over to local residents.

Amanda Williams, Group development director at Aster, said: "We’ve been ambitious and had an incredibly successful year for our development programme, despite the challenges facing the entire housing industry. The next few years will be critical in redressing the inequalities exposed over the last 12 months for those still looking to find a home in a place they want to live, and the 2,980 homes in our pipeline will play no small part. Access to quality, affordable housing is a fundamental right that many are still deprived of and we’re well-positioned and determined to play a key role in changing that.

“Delivering the housing that our society needs will never just be about volume and this is why we’ve backed a mixed delivery method, engaging a variety of partners from national housebuilders to local communities through our Community Land Trust programme. This enables us to cater for choice and tailor the homes we build to the people that need them – whether it’s affordable or social rent or alternatives to traditional ownership like shared ownership.”

Aster Group, which owns and manages over 32,000 homes across the south of England, operates a mixed development strategy that includes social and affordable rent housing along with shared ownership and homes for open market sale. Earlier this year it raised £250m via one of the sector’s first sustainability bonds to help fund more energy efficient homes.