星空传媒

Vistry鈥檚 profit has fallen in the first six months of 2025 but said it was expecting a 鈥渟ignificant step up鈥� in affordable housing contracts in the second half and 2026 because of new government funding in the sector.

The partnerships housebuilder today said its adjusted pre-tax profit for the six months to 30 June would be around 拢80m when it announces its interim figures in the autumn.

The figure is down a third on the 拢120.7m reported in the same period the previous year but Vistry said it was in line with expectations and that it remained on track to increase full-year annual profit.

Vistry added it is expecting increased demand for affordable housing partnerships work, pointing out that the 拢2bn in top-up funding for the existing Affordable Homes Programme announced in March will be distributed in the second half of 2025.

It also said the 10-year inflation-linked social housing rent settlement announced in the spending review and the confirmation of the reintroduction of rent convergence will lead to more development opportunities with social housing providers.

鈥淭he greater certainty on rental income that this gives to affordable housing providers enables greater access to funding for investment in new affordable homes and will be a key driver of increased demand from the second half of 2025鈥�, it said.

Vistry said the new 拢39bn Social and Affordable Homes Programme announced by chancellor Rachel Reeves last month 鈥減rovides a significant step-up in funding and long-term commitment to the affordable housing sector鈥�. Allocations of funding through this programme are expected to be made in the first half of 2026.

During the first half, Vistry completed around 6,800 homes, down from 7,792 in the same period last year. Half-year turnover is expected to be around 拢1.8bn, a drop from 拢2bn last year.

The firm will release its interim results on 10 September.