With the government introducing some complex and fast-moving planning and housing reforms, the future of social housing looks dangerously uncertain. In one corner, industry sceptics are asking whether new schemes such as the Affordable Homes Program and the localism bill are really going to balance and benefit the sector as a whole - opposite them are those looking forward to a period of possibility and opportunity.
But whether your glass is half-empty or half-full for housing, there is no denying that at the centre of all this change is money and social housing cuts in particular have really set alarm bells ringing. With that in mind, the Housing Network opened its doors to some of the industry's top executives, planners and financiers for a seminar to assess how social housing might survive financially in the future.
Peter Hetherington, former regional affairs editor at The Guardian, kicked things off with a rousing speech for the seminar's agenda, which he believed should try to "unblock" the current housing system by "charting a new way forward".
The seminar began with much discussion around the localism bill's planning forecast, which signals more than anything the demise of regional strategy. Figures came thick and fast, but something that really stuck was the loss of up to 60 -70 percent of the current planning framework, mainly because local development frameworks and regional strategies are two halves of the same development plan. More than anything there will be gaping holes in the planning policies for local authorities, which doesn't paint much of a pretty picture for the future of planning.
Shining some light in the darkness was THFC's Piers Williamson, who talked with the table about the future of funding because "amongst all this doom and gloom" he said, "housing associations have actually pulled through the economy very well". Williamson referenced the £50-60bn raised by housing associations last year and also mentioned the A+/AA credit ratings given to these associations, which actually makes them a safer credit than British banks.
Ultimately, social housing is rightly painted by the THFC as a viable and strong investment opportunity because their associations have solid regulatory frameworks, secured finances and a strong and steady income stream of rent and housing benefit. The table seemed to agree that housing associations are perhaps in the right place at the right time for institutional financing.
With some of the highs and lows of housing reform already discussed - and in a desperate need to clear heads from a volley of facts and figures - in came some refreshments, which encouraged some interesting talk away from the table on social media. All it took was one sighting of a smartphone and groups were chatting about how technology and social networks were paving a way forward for interacting with tenants.
Paul Edwards, director of resources at Havebury Housing Partnership, mentioned how platforms such as Twitter offered a way to communicate. But Waqar Ahmed of L&Q was quick to point out that even with the internet, housing associations still can't reach those tenants who remain in the dark about paying rent and speaking to their associations online.
Educating social housing tenants on the possibilities of online perhaps needs to come first before we all get caught up in the "media frenzy" - it needs to be a case of one step at a time together.
One final debate that emerged after lunch was on the Affordable Rent model which divided the table. On one side there were those who thought that a greater flexibility on rent (up to 80 percent of the market rate) allowed associations to "keep the show on the road" but others saw the potential challenges facing London-based tenants, who simply can't afford the new model. One example given showed that tenants in Fulham and Hammersmith would need to be earning £40-50k per year in order to keep up with the 80 percent market rate figure.
Towards the end of the seminar Waqar Ahmed pointed out that the seminar's title should be changed from "Show me the money" to "Chase the money" because, despite the doom and gloom that is hanging over social housing, there is money out there but associations need to be proactive.
Whether it's surplus reinvestment from the HRA reforms, institutional financing or a reassessment of your rent flexibility and efficiency, housing associations don't get given an A+/AA credit rating for no reason - there's uncertainty in the sector, sure, but there's also strength.
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