The last 12 months have been challenging for the region’s affordable housing sector and its customers.

From rising inflation, the growing cost of living, contractor uncertainties and difficulties in the supply chain the past couple of years have brought a series of challenges and hurdles for housing providers across the North East.

But with challenge comes opportunity and despite facing many competing demands and expectations, northern housing association Karbon Homes is celebrating a year of significant growth as an organisation, growth that’s played a valuable role in it achieving its mission to provide customers and communities with the strong foundations they need to help reach their full potential.

The Northern Echo: Paul Fiddaman, Chief Executive of the Karbon Homes Group Paul Fiddaman, Chief Executive of the Karbon Homes Group (Image: Karbon Homes)
Paul Fiddaman, Chief Executive of the Karbon Homes Group said: “Growth is one of the key enablers of our business strategy and in challenging economic times, where we’re seeing inflation rise and the cost-of-living increase, creating efficiencies and developing strong revenue streams to bring additional financial capacity into the organisation has never been more important.”

Karbon continues to focus on exploring growth opportunities that either consolidate on its existing geographical footprint or enable it to grow incrementally into adjoining areas where it can add value.

During the 22/23 financial year, the affordable housing provider invested over £95m into its development programme, providing communities across the region with good quality affordable housing that meet the needs of a diverse of residents at varying stages of life.

The Northern Echo:
The number of homes it owns and manages has also grown through a number of successful mergers and acquisitions. This includes welcoming the newly formed 54 North Homes to the Karbon Group, a 3,000 home Yorkshire footprint organisation formed through a merger between Leeds & Yorkshire Housing Association and existing Karbon Group subsidiary York Housing Association, and a transfer of 439 homes from South Tyneside Housing Ventures Trust.

Karbon has also seen significant growth within its cost sharing vehicle, Karbon Solutions Ltd. Through the CSV, Karbon provides a range of tenancy and property management services to other tax-exempt housing providers and within the last year four new partners based in the region have joined Karbon Solutions, benefiting from the cost sharing exemption on services by making VAT savings on labour.

The Northern Echo:
Paul added: “When it comes to growth, we don’t take decisions around new opportunities lightly. It’s not just about getting bigger for the sake of it, that doesn’t really do anything for us as an organisation. What we’re really interested in are opportunities that will enable us to deliver greater economies of scale or to have a more concentrated base from which to deliver more locally focussed services.

“Over the coming year and beyond, we’ll continue to innovate and explore new growth opportunities which will not only build our strength, capacity and capabilities as an organisation, but will build on the services and support we offer that help our customers and communities.”