Banks unveils ambitious plans to quadruple output

A County Durham housebuilder says it is laying the foundations for significant expansion with plans to quadruple the number of homes it delivers annually over the next five years.

Banks Homes is targeting at least 400 completions a year by 2031, having set an interim goal of increasing annual volumes to around 200 by the end of 2027.

Launched in 2023 as part of Meadowfield-headquartered The Banks Group, the company expects to complete more than 100 homes this year as it develops a growing portfolio across the North East and Yorkshire.

Construction is already under way at sites in West Rainton, Yarm, Wynyard and Hambleton, with work expected to begin at several further locations in the coming months.

Its development pipeline includes six live planning applications covering more than 550 homes, with further submissions expected shortly.

Banks Homes also recently secured a competitive Homes England tender for the latest phase of the Cottingwood development near Morpeth, where it plans to build 52 family homes on a 3.4-hectare site.

Managing director Russ Hall said: “We’ve made extremely pleasing progress over our first three years and have quickly established Banks Homes as an innovative, high-quality contemporary housebuilder within the North East and Yorkshire residential property markets.

“We know there’s a lot of competition in the housing market, so have differentiated ourselves through the outstanding design and build standards we work to, the prime locations in which we place our developments and the use of sustainable technologies that future-proof our homes. 

“Our homes have landed extremely well in the marketplace, with feedback from customers extremely positive, in respect of both the Banks Homes customer journey and the excellent quality of our finished homes.

“Passing three figures so quickly for our annual output is a real milestone for us, but we’re only just beginning to fulfil our ambitions and have a great deal more growth potential to realise.”

Growth has been accompanied by investment in the company’s workforce, with around 20 jobs created over the past year, taking the combined Banks Property and Banks Homes team to 70 people. 

Further recruitment is expected as development activity increases.

An inaugural apprenticeship programme has also been launched across commercial, sales and site management roles.

Russ added: “We’ve assembled a very strong team that has a huge range of housebuilding experience and are now focusing on giving young people the opportunity to learn their trade with senior colleagues’ support and guidance.

“Doubling our output by the end of next year is an ambitious target, but we have the pipeline, resources and focus required to reach it and to then double it again over the following four years.”

The expansion follows recognition for the housebuilder’s first completed development, Symeon Court at Mount Oswald in Durham City, which was shortlisted for North East Residential Development of the Year at the 2026 RICS Awards.

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