Homes England Awards Vistry £350 Million for Affordable Housing

Homes England has selected Vistry Group as one of 33 strategic partners to support the government's £39 billion Social and Affordable Homes Programme. Vistry will receive £350 million in funding over ten years to help create more than 73,000 new homes.

Chief Executive Adam Daniels stated that the award reflects the company's established track record and commitment to delivering affordable housing in collaboration with Homes England and partner providers. He noted that the announcement provides a much-needed stimulus for the wider sector.

The funding arrives as Vistry manages a balance sheet reset. The company expects to report a first-half pre-tax loss of approximately £30 million, following a £50 million impact from aggressive cash-generation measures. These measures included accelerated asset sales, deeper sales discounts, and write-downs on low-margin sites, which pushed the company's average daily net debt toward £800 million.