Peabody publishes Group Annual Report
Today, we have published our Annual Report for the year ended 31 March 2026, showing how we’ve continued to invest in residents’ homes and services, while listening to residents and acting on what they tell us.
Published: 15/09/2026
The report looks back on the first year of our three-year Group Strategy, which is focused on better services for residents, better together for colleagues and better homes and places. We have also published our ESG Data Book, Resident Review and Resident Impact Report.
Ian McDermott CBE, Peabody Chief Executive, said: “This year has been about listening to residents and acting on what they said. They told us they wanted more reliable repairs, better communication and confidence that when they tell us something needs to change, we act. We have listened and made changes.”
Improving homes and services
During the year, we spent £428m looking after residents’ homes, making sure they are safe, secure and in good condition. We also spent a further £415m helping to address the chronic shortage of affordable homes. We completed 1,911 new homes during the period (78 percent of which were affordable). Our total spend on homes during the period was £843m.
We continued to invest in improving energy efficiency. The proportion of residents’ homes with an Energy Performance Certificate (EPC) rating of C or above increased to 84 percent, up from 81.7 percent the previous year. Homes rated C or above are generally more energy efficient and easier to keep at a comfortable temperature.
Improving residents’ experience remains a priority. We strengthened our repairs service and made it easier for residents to contact us. Our new Live Chat service handled more than 21,000 conversations, while the time taken to answer calls fell by a third and response times for emails were halved.
Through forums, panels, scrutiny work and local engagement, we listened directly to 2,462 residents, using their feedback to help shape our services and priorities. A third resident joined the Board during the year, increasing residents’ influence at the highest levels of the organisation.
We continued to make incremental progress with our resident satisfaction measures. Combined satisfaction with Peabody as a landlord was 54 percent (2025: 53 percent). For residents who rent their homes, the figure was 59 percent and for homeowners it was 27 percent (2025: 59 percent and 23 percent respectively). Accelerating this improvement is a key priority.
Supporting residents
We supported thousands of households experiencing financial pressures, boosting their combined income by £4.2m. This included distributing food and energy vouchers, helping people claim support they’re entitled to and signposting others to where they can get additional help.
We also invested £10m in local communities through Peabody Community Foundation, supporting more than 30,000 people with 60,000 hours of free activities.
Financial performance
Our financial performance strengthened, with Group turnover increasing to £1.09bn (2025: £1.03bn) and our operating surplus before changes in the value of investment properties increasing to £279m (2025: £220m). The Group has total assets of £13.8bn (2025: £12.8bn).
At an average of £152 a week, our rents were £1.1bn below private rental market levels.
In April 2026, the Regulator of Social Housing (RSH) confirmed our ratings of G1 for governance and V2 for financial viability. We also received our first grading against the Consumer Standards of C2 which aligned with the Board’s assessment of where we need to improve. Since then, an action plan to move the organisation towards a C1 rating has been approved by the Board and executive.
Ian McDermott CBE, Peabody Chief Executive, continued: “Despite a challenging economic environment, we’ve continued to invest in the safety, quality and energy efficiency of residents’ homes. We’ve worked with residents to improve the way we handle repairs, making the service more local and focusing on solving issues on the first visit.
“We’ve also continued to build hundreds of much-needed homes for social and affordable rent, helping to tackle homelessness and reduce council waiting lists.
“Improving how we deal with complaints has been a priority and we’ve worked hard to cut the time residents wait for their concerns to be heard. We’ve also improved how we communicate, training colleagues in better writing, and supported thousands of people through our community and financial inclusion services.
“Our financial performance is strengthening, giving us a resilient platform from which to continue making improvements that residents can see and feel in their homes, services and neighbourhoods.”