Social Housing Is Profitable
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Social housing can be good business, according to private housebuilder, Crest Nicholson. A twofold increase in social housing helped the company produce profits at the top end of expectations. Overall output was up 30%, but operating margins dropped 1.1% to 14.8%. The average selling price dropped from £239,000 to £210,000 during the year. Of course, they are not just a housebuilder once in social housing. They are buzzwords, "a regeneration company". The CEO, John Calcutt commented, "We are doing something quite new, but maintaining profitability while we do it." The urban regeneration market, particularly in the South-East is a huge magnet for investment. An example is the huge Thames Gateway project to revitalise North Kent.
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