Pictured above: Peter McCormack, chief executive at Derwent Living

Derby based Derwent Living is bucking the trend during the economic downturn and has been named as one of the top 50 developers in the country.

The housing provider has been ranked as the 37th highest developer in the country this year by the national trade magazine Inside Housing, confirming that Derwent Living is continuing to provide much needed affordable housing during the credit crunch.

Despite the economic downturn, Derwent Living spent £45 million between October and December in 2008, making it the second highest spending organisation in that quarter. Between January and December the company spent £50 million, making it the 15th highest spending housing association for the whole year. 

Throughout 2008, Derwent Living delivered a total of 808 homes including 475 available for affordable rent. The ambitious programme is continuing this year with 500 affordable rent handovers planned for 2009, part of 675 handovers in total.

Peter McCormack, chief executive at Derwent Living said: "Appearing on the list of the top 50 developers in the country is a great achievement for us as a company and is a reflection of our continued commitment to provide affordable housing.  The current economic circumstances are creating increased demand for affordable housing and our objective is to provide a variety of affordable living solutions for people with the greatest housing need.

"We are continuing to invest in our housing stock and can now offer a number of initiatives for people with different needs including our Try before you buy scheme. Try before you buy is proving immensely popular with first time buyers at the minute who have been hit particularly hard by the crisis and are struggling to meet lender demands for higher deposits. We will continue to review patterns in the property market and make it our goal to provide viable solutions for people looking for a new home."