Press release

RSH Quarterly survey published covering Q4 - January to March 2018

The latest quarterly survey published by the Regulator of Social Housing confirms social housing sector’s strong financial position.

The Regulator of Social Housing’s latest Quarterly survey shows that the social housing sector has sufficient access to finance and is in a robust position to respond to any changes to the wider economic environment.

The survey report, published today (31 May 2018), covers the period 1 January 2018 to 31 March 2018 and includes forecasts up to 31 March 2019. This quarter’s survey, based on responses from 229 private registered providers (PRPs) and PRP groups who own or manage more than 1,000 homes, also includes annual data relating to private finance, impairment and non-registered entities.

Some of the main findings in this quarter include:

  • in the year to March 2018, providers agreed £10.1 billion of new facilities, £2.5 billion more than in the previous year
  • 95% of providers having sufficient debt facilities to last over 12 months or more – with the sector’s re-financing risk and re-pricing risk remaining low
  • an moderate increase in the 18 month pipeline for both affordable home ownership (AHO) and market sales
  • total investment in new supply at £10.0 billion in the 12 months to March 2018 was broadly in line with forecasts – with investment in new housing supply expected to be £14.3 billion over the 12 month forecast period
  • capitalised major repairs increased 4% in the year to March 2018, and are forecast to increase further in the year to March 2019

Fiona MacGregor, Executive Director of Regulation, said:

The survey provides a regular source of information regarding the financial health of PRPs, in particular with regard to their liquidity position. The March survey includes additional annual data, particularly relating to private finance. Where any information received through the Quarterly survey indicates a potential concern, this is followed up with providers.

Although providers currently remain in a strong financial position, the regulator will continue to closely monitor sales exposure and sales activity. Where sales revenues are lower than forecast or where a provider is reliant on sales receipts, we will seek assurance that the individual providers have sufficient access to liquidity.

The Quarterly survey sets out information such as the amount of borrowing by registered providers and where they have borrowed it from, the number of affordable home ownership homes and market sale homes they have built and sold. Alongside a programme of periodic In Depth Assessments and regular financial stability checks, it provides regulatory assurance on the sector’s financial strength and the continued viability of individual providers.

The regulator’s Quarterly surveys are available on our website.

Further information

The regulation of social housing is the responsibility of the Regulation Committee, a statutory committee of the Homes and Communities Agency (HCA). The organisation refers to itself as the Regulator of Social Housing in undertaking the functions of the Regulation Committee. Homes England is the trading name of the HCA’s non-regulation functions.

The regulator’s purpose is to promote 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.

For more information visit the RSH website.

Our About the Regulator of Social Housing page has contact details for media enquiries.

For general queries to RSH, please email enquiries@rsh.gov.uk or call 0300 124 5225.

This was published when RSH was part of the Homes and Communities Agency.

Published 31 May 2018