Social impact revealed: How L&G is tackling the housing crisis and driving up standards
12 August 2025
The Good Economy (TGE), a leading independent impact advisory firm, has produced its latest report examining the performance of L&G’s affordable homes division.
The fourth in a series of annual assessments found L&G is making positive progress against its core aims of delivering affordable, sustainable housing and raising standards within the sector.
2024 saw a period of significant growth for L&G, with the total number of homes reaching 7,287 – of which 5,683 were completed and occupied and 1,604 in the pipeline. That equates to an overall £1.2bn commitment to build new affordable homes.
L&G is also focused not just on the number of homes it delivers, but also the quality and sustainability of the housing it provides. 94% of completed homes had an EPC rating of A or B – meaning these homes are comfortable year-round and energy bills are kept low for residents.
Financial wellbeing is another pillar of a successful and fulfilling life. On average, residents living in L&G affordable and social rent homes are paying 60% of open market rent – alleviating a significant pressure on many household budgets. L&G’s affordable housing offer also provides stability through long-term, secure tenancies and asset ownership to shared owners. High levels of occupancy (96% of homes occupied), is indicative of the far-reaching benefits brought by L&G’s affordable homes and the extraordinary demand for such housing.
Much of L&G’s day-to-day property management and customer care is delivered by third-party partners. TGE’s report recognises the strength of those partnerships and the quality of the organisations L&G entrusts to support customers and maintain their homes.
Providing an exceptional service is central to L&G’s approach to affordable housing. With a Net Promotor Score of +66 (+50 and above is deemed good) and 72% of surveyed residents satisfied with the services they receive, L&G is getting things right according to The Good Economy. Though there is certainly room for further improvement – something the business is sharply focused on over the coming years.
Gareth Francis, Corporate Finance Director at L&G’s affordable homes division, said:
“L&G is committed to building more affordable homes and driving up standards across the sector. This latest report from The Good Economy shows the significant progress the business has made over the past year in achieving those aims.
We’re not complacent and there are still areas for improvement but, since our first impact assessment four years ago, we have shown a consistent upward trend across almost every area of our work.
With a plan for further growth, supported by robust governance, L&G’s affordable homes division will continue to make an impact where it matters most – creating high-quality, sustainable communities.”
Sarah Forster, co-Founder and CEO of The Good Economy said:
“Over four years of reporting, we’ve seen L&G deepen its impact and strengthen its role in the affordable housing sector. Our latest report evidences that L&G are delivering on their Social Impact Priority – contributing to the equity and affordability of local places. L&G also continues to scale their delivery having increased the total number of operational and secured pipeline homes by 22% in the last year to 7,287.
We particularly commend L&G on unlocking the stalled Perry Barr development, in Birmingham, which will bring 487 homes originally intended to be private market use into affordable rent and shared ownership tenures.”
Read The Good Economy’s full report here.