皇冠体育app

皇冠体育app Regulator of Social Housing has published its 2021 Global Accounts today (14 December 2021), a financial overview of the social housing sector for the year ending 31 March 2021. 皇冠体育app report shows that the sector demonstrated a resilient financial performance in the face of testing economic and operating circumstances.

皇冠体育app first part of the year saw the direct impact of the pandemic including lockdowns and the closure of construction sites which resulted in delays to capital investment programmes and a fall in investment in new supply by 20%. Some major repair programmes were also affected. However, expenditure on routine repairs was maintained over the year.

Other highlights included the following.

• Despite the challenges, providers鈥� underlying surplus in the year fell only slightly from 拢2.7bn to 拢2.6bn.
• 皇冠体育app impact of rent increases returning to CPI +1% from April 2020 was offset by lower sales of properties held for rent and an increase in net finance costs.
• 皇冠体育appre was limited movement in arrears.
• 皇冠体育app housing market remained strong despite closing for a period and income from first tranche shared ownership sales and outright market sales stayed at the same level as 2019/20 at about 拢0.5bn.

皇冠体育app robust financial performance in the year was backed up by strong liquidity and investor confidence. 皇冠体育app sector agreed the highest level of new facilities recorded in a single year at 拢15.1bn, and drawn debt increased to 拢86.3bn. 皇冠体育app sector remains committed to future growth, with capital commitments of 拢38.7bn (a 5% increase on 2020). This commitment is reflected in providers鈥� financial forecasts which show planned increases in investment in energy efficiency and building safety as well as catch-up spend on major repairs.

Fiona MacGregor, Chief Executive of RSH said:

Despite strong headwinds, housing associations and other private social housing providers responded well during 2020/21 to maintain their financial resilience, attract investment and continue to deliver essential services.

皇冠体育app continuing uncertainty of the pandemic coupled with wider macroeconomic and operational challenges mean providers must maintain their focus on delivering their core purpose and communicating effectively with stakeholders. It is vitally important that boards and executives manage risks effectively to ensure their continued financial viability and so protect tenants鈥� homes.

皇冠体育app annual publication is available on the Global Accounts page of our website.

Notes to editors

1. For press office contact details, see our Media enquiries page. For general queries, please email [email protected] or call 0300 124 5225.

2. 皇冠体育app annual Global Accounts report is based on an aggregation of the financial statements of the 209 private registered providers of social housing who own or manage at least 1,000 homes (together representing more than 95% of the sector鈥檚 stock).

3. 皇冠体育app Global Accounts cover the period from 1 April 2020 to 31 March 2021 and is the first to include the impacts of the coronavirus pandemic.

4. 皇冠体育app report includes an analysis of providers鈥� financial forecasts.

5. 皇冠体育app underlying surplus of 拢2.6bn for 2020-21 excludes fair value gains and losses.

6. RSH promotes a viable, efficient and well-governed social housing sector able to deliver homes that meet a range of needs. It does this by undertaking robust economic regulation focusing on governance, financial viability and value for money that maintains lender confidence and protects the taxpayer. It also sets consumer standards and may take action if these standards are breached and there is a significant risk of serious detriment to tenants or potential tenants.