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Paradigm Housing has reported a loss of £11.2m for the year

The 16,000-home housing association, in its accounts for the year to 31 March, reported the drop, from a surplus of £54.1m the previous year.

The association said the fall was due to £32.5m of charges as part of a refinancing deal. It said its underlying surplus, excluding one-off items grew 12% to £21.3m.

Paradigm also revealed it built 225 homes in the year, missing its target of 328. It said this was due largely to a development where an unnamed contractor went into administration.

It said its current 1,100-home pipeline is lower than its corporate plan target of maintaining a pipeline of 1,600 homes due to impacts from Covid-19.

Paradigm is aiming to build 2,250 homes over five years as part of its development strategy. It has also set itself a target of bringing all its homes to Energy Performance Certificate C by 2030 and has brought forward a programme to survey of its properties to ensure it can reliably measure energy performance of its stock.

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Julian Ashby, chair of Paradigm said: “We want to expand and improve the quantity and quality of the new homes that we build, and to make a clear commitment to improving the energy efficiency of our existing homes. Both of these have embedded within them a commitment to providing customers with good quality, affordable and safe homes.”

Ashby, former chair of the Regulator of Social Housing, joined Paradigm as chair in 2018, re-uniting with chief executive Matthew Bailes, who led the regulator between 2012 and 2015.

Housing association financial statements 2021/22

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Vivid increases development to above pre-pandemic level 33,000-home housing association completes 1,400 homes

Platform scales back targets for development and energy efficiency 46,000-home housing association increases turnover boosted by increased shared ownership sales

Later living giant Anchor posts £24.4m surplus following loss last year Housing association ‘on track’ with increased 5,700-home development plan

Hyde delivers fewer social homes than expected due to ‘delays and shortages’ 48,000-home housing association delivers 74% of affordable target, but hits lowered development target overall.

EMH Group misses development target by 40% Housing association says build hit by planning delays, materials shortages and pandemic impacts but is confident of hitting five-year target

Stonewater reports halving of surplus and missed build targets as costs hit 34,000-home housing association hit by increase in operating costs

Moat misses build target but revenue rises South east-based social landlord reports £181m turnover but feels impact of labour and materials squeeze

Metropolitan Thames Valley’s surplus falls 33% following tower block fire costs 57,000-home housing association’s balance sheet hit by multiple factors, including increased operating costs and a fall in home sales

L&Q’s surplus plunges after admitting major write down Housing association giant reports series of impairments reducing surplus by £53m

Orbit sees housing completions rise Materials and labour shortages mean growth was slower than expected for 47,000-home social landlord

Peabody boosts turnover and surplus due to shared ownership staircasing Housing association giant plans to start work on 7,000 new homes by March 2023

Sanctuary misses development target by a third due to ‘pandemic effects’ Housing association giant undershoots target but increases completions 34% year-on-year

Vivid increases development to above pre-pandemic level 33,000-home housing association completes 1,400 homes

Platform scales back targets for development and energy efficiency 46,000-home housing association increases turnover boosted by increased shared ownership sales

Later living giant Anchor posts £24.4m surplus following loss last year Housing association ‘on track’ with increased 5,700-home development plan

Hyde delivers fewer social homes than expected due to ‘delays and shortages’ 48,000-home housing association delivers 74% of affordable target, but hits lowered development target overall.

EMH Group misses development target by 40% Housing association says build hit by planning delays, materials shortages and pandemic impacts but is confident of hitting five-year target

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