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Peabody to ‘significantly reduce’ its development output

By 2023-04-05T08:11:00

Peabody Thamesmead SOUTHMERE_phase 2 binsey

Housing association boss says it will reduce short term build plans in face of inflation as Catalyst merger finalises

Housing association Peabody is to significantly rein in its development ambitions in the short term in the wake of “headaches” caused by rising inflation and interest rates.

Ian McDermott, chief executive of Peabody, told Housing Today that next year was likely to see a “significant reduction” in the development output of the 104,000-home London-based social landlord, which was likely to last a couple of years.

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