At a time when nearly 80% of households across Great Britain report their cost of living has increased – the highest figure since late 2022 – independent research by Pegasus Group estimates that five ongoing affordable housing developments by Adderstone Living will generate £37.3 million in economic output during construction, support 124 jobs and continue delivering benefits to local communities once occupied.
Adderstone Living, which works across general needs family housing, older persons’ schemes and supported living, has grown from its North East roots into Yorkshire, the North West and the Midlands. The research focused on five ongoing affordable housing developments by Adderstone Living in County Durham, North Tyneside and Yorkshire, assessing their projected impact during construction and beyond.
Once fully occupied, the developments are expected to provide homes for around 427 people and contribute more than £500,000 in Council Tax revenue to local authorities each year, forming part of a projected £2.1 million annual boost to local economies. The 198 homes span low-cost rent, shared ownership and rent-to-buy tenures, delivered in partnership with Karbon Homes, Believe Housing and North Tyneside Council, with funding support through Homes England’s Affordable Homes Programme.
The research also estimates the developments will reduce carbon emissions by around 216 tonnes a year compared with older homes. All properties will achieve an A or B energy performance rating, with residents expected to save a combined £81,000 annually on energy bills – a welcome saving at a time when many households continue to face higher living costs.
Stephen McCoy, CEO at Adderstone Living, commented: “We work on a lot of sites, and what strikes you every time is how much these communities need good quality, affordable homes and how much difference it makes when it actually arrives.
“These numbers are important, but what they represent is real people in warm, affordable homes. That’s what we’re here to do, and it’s what keeps the team going.”
Sandra Manson, Executive Director of Planning, Pegasus Group, added, “We’ve worked with Adderstone Living over a number of years now, and what the data consistently shows is a business that delivers.
“It’s great to see a developer grow the way they have and to be able to demonstrate, with independent evidence, that the homes they’re building are making a real difference to the people and places around them.”
Supported by the resources of Adderstone Group, home to a number of specialist contracting businesses including Adderstone Civils, Adderstone Construction and Adderstone Nova. Adderstone Living reflects the Group’s strategy of building businesses that shape places.
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