Places for People delivers record social impact, affordable homes and collaboration in 2025/26

The UK's leading social enterprise, Places for People (PfP), today reports record social impact, strong financial performance, and significant progress in affordable housebuilding and collaboration.  

Its 2025/26 Annual Report shows turnover exceeding £1.23 billion, an increase on last year’s £1.06 billion, and an increase of £40 million in operating profit. This generated an underlying operating margin of 22.6%, up from 19.3% in 2024/25.   

During the year, the Group continued to grow through mergers and by building new homes while focusing on operating efficiencies – driving an improvement in key financial metrics and underlying profitability.   

PfP worked with partners to complete 2,509 new homes – 77% of which affordable, including a record 512 for social rent – and recorded its strongest year for Modern Methods of Construction (MMC). By partnering with local authorities on modular housing pilots in Salford and Bristol, the Group is helping to address temporary accommodation pressures. Its wider homelessness programmes helped and gave wraparound support to 8,500 people who were homeless or at risk of homelessness.    

Published alongside the Annual Report, the Group's ESG Report today highlights progress against the environmental, social and governance targets it set in 2024. PfP diverted more than 98% of waste from workplaces, leisure centres and development sites away from landfill, while over half of newly built homes included renewable energy technologies. Through PfP Thrive, the Group delivered 673 green and future skills training sessions.  

As the Government launched its £39 billion Social and Affordable Homes Programme (SAHP), PfP worked with Homes England, the National Housing Bank and sector partners to explore new approaches to housing delivery and financing at scale, while publicly encouraging the sector to bid ambitiously for funding.  

Alongside its housebuilding programme, through which it remains a trusted Homes England partner, PfP strengthened its role as a sector leader and convener. PfP Thrive, established to tackle the sector's growing skills shortage, partnered with 60 organisations in its first full year – demonstrating the value of proactive and collaborative approaches.  

The Group generated a record £678 million in social value, equivalent to almost £2 million every day and double the total achieved in 2023/24. Housing operations alone generated £333 million. Direct Customer support helped secure £4.6 million in financial benefits, distributed £135,850 in food vouchers, and provided £200,000 to support 39 warm hubs across 150 locations.  

PfP also expanded its focus on health and wellbeing. In February, it became the first housing association to partner with The Ramblers, launching plans for more than 60 community walks starting from PfP neighbourhoods and Places Leisure centres. Meanwhile, Places Leisure welcomed almost 30 million visits across its 100 centres during the year.  

PfP's growing influence was reflected in its policy engagement. Group Chief Executive Greg Reed met with the Housing Minister to advocate for rent convergence, gave evidence to a Parliamentary Select Committee on sector financial resilience, and shared PfP's journey to achieving a C1 consumer grading at a major industry conference.  

The year also saw significant strategic progress. The landmark Gilston Park Estate project in East Hertfordshire, a joint venture with Barratt Redrow, cleared its final legal hurdles, paving the way for around 8,500 homes across six new villages.  

Greg Reed, PfP Group CEO, said: "As Number 10 ushers in a new era of collaboration, PfP's success over the past year demonstrates the true power of partnership. By working with local and national Government, sector partners and our Communities, we've delivered thousands of new homes, developed innovative solutions to homelessness and temporary accommodation pressures, helped tackle the sector's skills shortage, and strengthened the connection between housing, health and wellbeing – all while generating record social value and maintaining our financial strength. 

"Partnership has been central to PfP for more than 100 years. Today we're collaborating with greater impact than ever before and want to work with others who share our ambition to deliver better outcomes for Customers, stronger local economies and thriving Communities. Lasting change is achieved together." 

The report also highlights continued strong performance across core housing services, including high compliance under the Social Housing Regulation framework and successful delivery of all Homes England grant-funded programmes. The Group maintained its regulatory gradings of G1, C1 and V2.   

Following the recent successful merger with Origin, PfP further strengthened its national presence through mergers with South Yorkshire Housing Association and Elim Housing, expanding its footprint in Sheffield and Bristol.