HCA confirms strong investment in social housing

This post first appeared on Construction Media. Read the original article.

The Homes and Communities Agency (HCA) has released its 2017 Global accounts of private registered providers.

The HCA accounts show that the sector has delivered another strong year of investment, with both new and existing social housing properties increasing.

Based on analysis of submitted regulatory returns and statements, the annual publication provides an overview of the financial status of private registered providers of social housing who own or manage at least 1,000 homes.

Statistics from the latest accounts show that some £10Bn has been invested in new housing supply (including social housing, as well as investment in properties for sale, and market rent) and £1.6Bn in improving existing stock. With a total investment of £11.6Bn, the sector has increased investment by 15% on 2016.

Fiona MacGregor, Director of Regulation said: “This year’s figures show that the social housing sector is continuing to invest substantially in existing stock and new supply and as a whole is well-placed to respond to the changing operating environment. The sector has consolidated over recent years and there are now a small number of very large providers; significant changes in these providers can have a material effect on sector results.

“The year-on-year decrease in management costs and major repairs expenditure demonstrate how the first 12 months of rent reductions have been managed. While the lower repairs spend partly indicates the progress being made towards reducing non-decent stock we will continue to encourage providers to have a rigorous, evidence-based approach to expenditure and investment, which ensures that housing is sustainable for the long term, responds to tenant needs and gives good value for money.

“The 2016 Global Accounts were published in February 2017. In response to sector feedback that an earlier publication date would help providers to compare their performance against their peers more easily, we have brought forward the publication date compared to previous years.”

 

If you would like to read more articles like this then please click here.

The post HCA confirms strong investment in social housing appeared first on UK Construction Online.