THE credit crunch will not stop north Hampshire’s biggest housing association providing more affordable homes.

That was the message from the annual meeting of Sentinel Housing Association, which is based in Kingsclere Road, Houndmills, Basingstoke.

The meeting, held at the Apollo Hotel, in Popley Way, revealed the latest figures from the housing association’s annual report.

Sentinel chief executive Martin Nurse told the audience, which included Sentinel staff and councillors from Basingstoke and Deane borough and Hart district councils, the organisation had a net turnover of just less than £34.9million in 2007/08.

The figure was down slightly from the previous year, when Sentinel had an annual turnover of £35.7m. But despite the drop, Mr Nurse maintained Sentinel is in a position to expand, with a net surplus figure of £5.2m after tax in 2007/08.

He said: “Although the housing market is different now, we must grow and develop new property, particularly at the present time, when the demand for affordable housing is going up.”

Current projects for Sentinel include two in Popley – a £32m scheme to demolish 120 maisonettes in the Maldive Road area and replace them with 230 new homes, and a £14m plan to build 99 homes using timber frames in Longfellow Parade.

Mr Nurse added Sentinel will be offering financial advice for its residents in the worsening economic climate.