Latest figures show social housing sector is in a strong financial position

There has been an increase in the number of homes for sale being developed by the social housing sector which is in a strong financial position, according to the latest quarterly survey. Over the 2018/2019 financial year, the sector raised new facilities worth £13.5 billion, the highest amount raised in a single year, the figures from the Regulator of Social Housing shows. The 6,367 of homes developed for sale which were completed in the quarter, include 4,817 affordable homes and 1,550 properties for market sale. The increase in the number of unsold properties to 6,924 affordable home ownership homes and 1,933 market sake homes, primarily reflects this peak in development, the report says. The sector remains financially strong with access to £20.8 billion in undrawn facilities available at the end of March and total sales receipts in the quarter amounted to £1.5 billion, the second highest amount achieved in the last three years, only slightly lower than the figure reported in the quarter to March 2018. Over the next 12 months expected investment in new housing supply is forecast to be £14.9 billion, of which £10.5 billion is contractually committed. In the 12 months to March 2019 total investment in new supply was £11.8 billion.