{"id":127442,"date":"2023-06-01T14:13:37","date_gmt":"2023-06-01T13:13:37","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=127442"},"modified":"2023-06-01T14:13:37","modified_gmt":"2023-06-01T13:13:37","slug":"regulators-report-reveals-financial-pressures-social-housing-sector","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/regulators-report-reveals-financial-pressures-social-housing-sector\/127442\/","title":{"rendered":"Regulator&#8217;s report reveals financial pressures in the social housing sector"},"content":{"rendered":"<h2>The Regulator of Social Housing Sector has released findings from their latest quarterly survey, which assesses the financial well-being of registered providers<\/h2>\n<p><a href=\"https:\/\/www.gov.uk\/government\/collections\/quarterly-survey-of-private-registered-providers\" target=\"_blank\" rel=\"noopener\">The report<\/a> summarises financial data from the social housing sector for the previous fiscal year. The latest findings revealed that providers are under significant pressure and are struggling to cope with a difficult economic climate.<\/p>\n<p>Factors such as high inflation, labour, and material shortages, rising borrowing costs, and increased spending on repairs and maintenance have affected providers&#8217; operating expenses.<\/p>\n<h3>Billions have been invested into the social housing sector<\/h3>\n<p>Over the past year, providers have allocated \u00a36.9bn towards repairs and maintenance. Stakeholders anticipate an additional \u00a37.9bn of funding in the next year. This increased expenditure is driven by repairs related to dampness and mould, building safety improvements, <a href=\"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/1-8bn-social-housing-decarbonisation-fund-decarbonise-housing-public-buildings\/123274\/\" target=\"_blank\" rel=\"noopener\">investments in energy efficiency<\/a>, and the impact of inflationary pressures.<\/p>\n<p><a href=\"https:\/\/www.pbctoday.co.uk\/news\/building-control-news\/gove-issues-update-on-damp-and-mould-in-social-housing\/120539\/\" target=\"_blank\" rel=\"noopener\">Social housing tenants frequently experience issues with dampness and mould<\/a> in their rented homes as a result of inadequate maintenance, worsened by poor communication and delayed responses from their landlords.<\/p>\n<p>A Housing Ombudsman Service report from 2021 found that there was frustration among tenants, who felt like they were not being heard, and that their landlords were not taking their complaints about mould and living conditions seriously.<\/p>\n<p>The regulator has been closely watching the trend of increased funding during recent checks on the financial viability of providers. They stress the significance of boards managing risks well, particularly ensuring they have enough licences to meet interest cover requirements.<\/p>\n<h3>\u00a316.8bn is expected to be spent on new homes next year<\/h3>\n<p>Providers have continued to construct and acquire new homes. They have invested \u00a313 billion in the past year (compared to \u00a312.7 billion the previous year). They anticipate spending an additional \u00a316.8 billion on new homes next year, with \u00a311.4 billion already committed to new projects.<\/p>\n<p>Despite significant financial pressures, the social housing sector maintains a robust liquidity position and has secured \u00a39.9 billion in new financing, bringing the total agreed facilities to \u00a3123 billion. Undrawn facilities are currently at a historically high level, and the majority of debt is structured with fixed interest rates.<\/p>\n<p>\u201cProviders continue to face significant economic challenges, including high borrowing costs and inflation. Boards need to take a strategic approach to managing these risks to ensure they can continue to deliver tenant services, increase repairs and maintenance, and invest in new homes,\u201d commented deputy chief executive of the Regulator of Social Housing Sector, Jonathan Walters.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Regulator of Social Housing Sector has released findings from their latest quarterly survey, which assesses the financial well-being of registered providers.<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[276,570],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-127442","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-government","8":"tag-social-housing"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Regulator&#039;s reveal financial pressures in social housing sector<\/title>\n<meta name=\"description\" content=\"Regulator&#039;s survey reveals financial struggles in the social housing sector amid a difficult economic climate\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/regulators-report-reveals-financial-pressures-social-housing-sector\/127442\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regulator&#039;s report reveals financial pressures in the social housing sector\" \/>\n<meta property=\"og:description\" content=\"The Regulator of Social Housing Sector has released findings from their latest quarterly survey, which assesses the financial well-being of registered providers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/regulators-report-reveals-financial-pressures-social-housing-sector\/127442\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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