Housing associations in La La Land

It’s time to open up the envelope. Yes let’s see who has won the housing Oscars. The Global Accounts are out. It’s the moment of truth. The housing minister is rooting for the big boys. Is he in for a good night? We’ll see.

oscars

What’s the first category? It’s for the RPs that cost the least per home to run. Bad news. The minister might have to put his DJ back into Moss Bros. covered in the salt of many tears.

Yet again the most expensive RPs per home are the biggest. The median cost per home is at its highest for those with more than 40,000 homes. Here’s the highlights:

table

Don’t go yet minister. Hold your horses. All is not lost. What about the next category? Who built the most homes? Yes the big boys romped home. Look at this:

Organisation Sum of social housing units developed
Sanctuary Housing Association 1,857
Hyde Housing Association Limited 1,767
Orbit Group Limited 1,344
One Housing Group Limited 1,300
London & Quadrant Housing Trust 1,243
Home Group Limited 1,049
Notting Hill Housing Trust 941
Affinity Sutton Group Limited 870
Sovereign Housing Association Limited 835
Housing & Care 21 819

 

What’s this? The accountants are yelling at us. It’s a mixed picture. Some of the smaller RPs are punching above their weight. Look at this:

Organisation New home build rate as percentage of stock Sum of social housing units developed Sum of opening social housing units managed
One Housing Group Limited 9.29% 1300 13989
Hightown Housing Association Limited 8.27% 341 4123
Newlon Housing Trust 6.20% 465 7500
The Christian Action (Enfield) Housing Association Limited 6.14% 90 1466
Thames Valley Housing Association 5.88% 748 12728
Suffolk Housing Society Limited 5.59% 150 2684
St Mungo Community Housing Association 5.05% 111 2196
Saffron Housing Trust Limited 4.98% 273 5483
Housing Solutions Limited 4.74% 243 5129
Soha Housing Limited 4.61% 274 5946

 

So can you rely on these figures? Yes, we are not expecting the sort of glitches we got at the Oscars. But do treat them with care. We do know what you are doing with them. Half the RPs are sizing up merger targets. While the other half are doing a Sturgeon and making the case for independence.

Do remember that the data is a year old and doesn’t tell you everything. Is there a tricky covenant or a big repair bill on the way? You don’t know. But the Global Accounts are all we have and a very good start. And you can get most of the common metrics for RPs out of them. So use them wisely.

Data analysed by Ian Parker – model available from the Housing Finance Excellence Network. For more information, please get in touch at hfexpert@hqnetwork.co.uk.

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