Peabody to scale back development ‘significantly’

peabody mcdermott cropped

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

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 the housing association, 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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