Latest social housing regulator figures show value of homes at £77bn
The housing association sector now owns homes valued at over £77bn, a rise of over 10% in the last year, according to the latest figures from the social housing regulator.
The value of assets in 2007 was £77.4bn, with the 10.1% increase funded by continuing development by associations, as well as transfer of council homes to privately-run social landlords.
The amount owed by the sector rose by 9.2% to £30.9bn.
At the same time the turnover of the housing association sector increased by almost 10% in 2007 to over £9bn.
The figures show turnover up 9.4% to £9,117m driven largely by the construction of new social homes.
Surpluses – the profits made by housing associations which have to be reinvested in the sector – were also up, by 8.4% to £270m.
However, the Housing Corporation research, entitled the Global Accounts of Housing Associations, found the sector would not have turned a profit without the sale of £542m worth of social homes on the open market.