Civitas Social Housing added an extra 34 properties to its portfolio during the three-month period to 31 March.
The business carried out ‘a significant amount of investment’ increasing the ‘size, diversification and quality’ of its portfolio, it said in a market update.
International Financial Reporting Standards net asset value per share was up 0.6% to 107.1p (31 Dec 106.5p), while annualised rent roll stood at £45.7m at the end of the period.
The update said demand for affordable housing of all types was growing ‘at a much faster pace than supply’ against a backdrop of house price volatility and uncertainty driven by Brexit and other macro factors.
‘As we work at a local authority level it is clear that there is increasing demand for specialist supported housing as a cost effective and ethical way to deliver care in the community as opposed to more expensive hospital-based provision,’ it said.
‘We expect this to continue into the future and we are working at a strategic level with many leading care providers and other property owners in order to develop transactions that meet specific needs and requirements.’