9th December 2019
Thirteen associations face downgrade if UK sovereign rating lowered, warns S&P Manifestos and what they mean for the housing sector in the North
As the parties publish their manifestos, NHC Senior Policy Advisor Karen Brown has looked at the main party manifestos to see where they diverge or converge on housing policies and what they mean for the North.
The agency, which rates 41 UK landlords, said a lack of clarity over Brexit “continues to weigh” on providers of social housing and next month’s election has intensified the uncertainty. Earlier this month, Moody’s, another credit rating agency, warned it could cut its rating on Britain’s sovereign debt partly due to Brexit paralysis. An S&P spokesperson revealed to Inside Housing that the 13 housing associations facing a possible downgrade are: Accent, Aster Group, Bromford, Incommunities, Karbon Homes, Lincolnshire Housing Partnership, Octavia Housing, Plymouth Community Homes, Stonewater, Sanctuary, Sovereign, Gentoo, and Swan. Read more
Housing associations set for two-year turnover increase
Read Full Summary Last-ditch pitch for housing to get ahead of the general election Three regional housing groups have teamed up to make a last-ditch pitch for housing to get ahead of the general election. With just days to go, Homes for the South West, Homes for the North, and the G15 want housing pushed higher up the agenda. With Homes for the South West launching its own General Election manifesto, the chairs of the three campaigning groups have come together to show their support for a regional approach to housing investment and set out a common vision to deliver the homes needed. Read more
General Election Property Market Boost? With the general election just a week away, the property market is waiting with bated breath to find out whose rule the country will be under come December 13th and, consequently, which way house prices might swing as a result. But does a general election really affect the property market? Seven Capital has carried out research into house prices on and around the last 50 years of elections to look at how the upcoming election could affect the UK’s housing market this time around. Read article
Housing associations should see turnover increase by 30% over the next two years, boosted by a return to inflationlinked rent rises for social housing from 2020, as well as higher market sales, new analysis says. Effective cost controls, coupled with turnover growth, will lead to higher surpluses. Read article
Wealth Gap – North-east still below pre-crisis level A study by the Office for National Statistics (ONS) found that the poorest 10% of households had debts three times greater than their assets compared with the richest 10% who amassed a wealth pile 35 times larger than their total debts. The survey also found that regional wealth gaps have grown, with the fastest pace of growth found in the southeast. Typical household wealth in the south-east is £445,900, more than twice as high as the north-east at £172,900. The foundation said despite the UK’s record level of wealth, typical wealth in the north-east and east Midlands in 2016-18 was still below its pre-crisis level. Read Article