Housebuilder Banks Homes is accelerating its growth strategy after revealing plans to double the number of new houses it builds each year by the end of 2027 – and to then double it again by 2031.
The County Durham-based firm has been developing a portfolio of high-quality residential sites across North East England and Yorkshire since its launch in 2023 and is looking to complete well over 100 homes this year.
But with development now well under way at sites in West Rainton, Yarm, Wynyard and Hambleton in North Yorkshire, and with work set to start in several new locations in the coming months, Banks Homes is set to increase its house completions to around 200 per year by the end of 2027.
The company currently has six planning applications in the system for over 550 homes across the North East and Yorkshire, with further applications to be submitted shortly, and recently won a competitive Homes England tender for the latest phase of the prestigious Cottingwood development on the northern edge of Morpeth, which will see 52 family homes being built on a 3.4 hectare site.
In the longer term, Banks Homes is working towards building at least 400 new properties every year within the next five years.
Part of North East employer the Banks Group, Banks Homes has created around 20 new jobs over the last year to take the core Banks Property and Banks Homes team up to 70 people, with further recruitment expected to follow as the business grows.
Banks Homes has also just launched its first apprenticeship programme covering commercial, sales and site management functions, while the company is in its second year as the naming rights holder for Durham Cricket’s Banks Homes Riverside stadium in Chester-le-Street as part of the Banks Group’s position as the club’s principal partner.
Managing Director Russ Hall says: “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 high specification contemporary homes have landed extremely well in the market place with feedback from our customer has been 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.”
Banks Homes is expecting that its current live planning applications will reach their respective planning committees before the end of this year.
Its first completed site, the luxury Symeon Court development at Mount Oswald in Durham City, was shortlisted as North East Residential Development of the Year in the Royal Institute of Chartered Surveyors’ Awards 2026.
Banks Homes also won a Highly Commended accolade in the Housebuilder Of The Category of Insider’s 2026 North East Property Awards, while it has been consistently recognised with five-star quality ratings at inspections by its warranty provider, Premier Guarantee.
Russ Hall continues “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.”