Revenue dropped 12% to £764m for the year to October 2024, as completions dropped 14% to 3,516 homes.

The average selling price crept up 2.8% to £217k as demand held up for the firm’s affordable housing offer. But fewer outlets and sluggish planning approvals dragged overall volumes down.

Chief executive Tim Beale said the group’s flexible multi-tenure model and long-term partnerships helped maintain progress on site, with 847 plots delivered through bulk deals with PRS and housing association partners.

Despite the tougher market, Keepmoat expanded its forward land pipeline to over 24,400 plots—up from 23,100—representing around seven years’ supply.

Beale backed the new Government’s push for faster planning reform and affordable housing targets, calling Keepmoat “perfectly aligned” to deliver more homes on brownfield and regeneration sites.