The Metropolitan Thames Valley Housing (MTVH) Annual Report 2025 showed that it invested £419m in land and new homes, up from £280m in 2023/24.
Investment in existing stock, including maintenance and building safety, was £165m, up from £149m.
MTVH delivered 544 new homes, down from 892 the previous year.
Of these, 287 were for rent, 183 Shared Ownership, 7 rent-to-buy or London living rent, and 67 private sale via joint ventures.
The development pipeline stood at 4,970 homes, down from 5,556 due to progress on regeneration schemes.
Turnover was £454m before non-recurring income, an increase from £420m the previous year.
The report also showed that operating surplus before net building safety and non-recurring costs and before finance costs was £148m, compared with £127m in 2024.
After these costs, operating surplus stood at £136m, up from £17m last year.
Operating margin before net building safety and non-recurring costs was 33%, rising from 30%.
After these costs, the margin was 30%, compared with 4% previously.
Letting margin was 27%, and surplus after tax was £48m, down from £80m.
Financial support delivered to residents was £3.4m, up from £3m.
Gearing was 40%, up from 37%.
MTVH’s credit rating remained A- stable from both Standard & Poors and Fitch.
Employee engagement score was 79%, compared with 82% last year.
Satisfaction with repairs service was 76%, up from 72% and overall resident satisfaction was 68%, unchanged from the previous year.
Melbourne Barrett, CEO of MTVH, said: “It’s been a year of strong performance with investment in the maintenance and improvement of our existing homes increasing to £165m, 544 new homes built and our five-year development pipeline numbering 4,970 homes as at March 31st.”
“I am proud of what the team has achieved over this past year, but we are also ambitious to do more.
“We will continue to place our residents at the heart of everything we do and will collaborate on solutions through our Customer Voice Framework.”
Barrett added: “We remain committed to providing safe and warm homes, enhancing the lives of our residents and supporting the communities we serve to be successful.”
