Aster has seen its turnover increase and reported a record spend on its existing stock in its latest financial year.
For the year to 31 March 2026, the housing association generated turnover of £337.6million, up from 329.9million the previous year, with a pre-tax surplus of £45.4million.
During the period, the Group spent £124.6million on improvements across its 38,000-home estate, up 8% year-on-year and its highest-ever total for a single annual period. This included replacing more than a thousand windows and upgrading over 1,300 boilers, to improve the energy efficiency of its 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.
Aster Group says that it plans to invest £1billion in maintaining and upgrading its customers’ homes over the next seven years.
Over the 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 strengthened in recent weeks by securing a £240million grant allocation through the SAHP that will support the delivery of 1,320 homes across the south of England.
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.”
