One in five could be in housing association homes by 2033
Published by Anonymous for 24dash.com in Housing and also in Central Government, Communities, Development
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Housing associations could house one in five of England's population by 2033, according to the National Housing Federation.
A new NHF report - 'An Ambition To Deliver' - sets out a vision of housing associations in 2033 as efficient social enterprises that can generate profit for social good, and urges the sector to stretch government investment, access more private finance and unlock under-used capacity for development.
If it can deliver, the NHF believes that by 2033 the sector could own and manage more than double the number of homes it currently has and house over 12 million people. Additionally, it could house nearly one in 10 people living in private rented homes, owning homes of all tenures and housing people across all parts of the market wherever there is housing need.
A quarter of a million new homes are needed each year to keep up with demand but housing completions are not expected even to reach 200,000 until after 2031. According to the NHF, with additional freedoms, capacity and public investment, housing associations could make up the shortfall, according to the report, building up to 80,000 affordable homes and 40,000 for market rent or sale each year.
'An Ambition To Deliver' calls on housing associations to exploit their full potential as social enterprises to have a lasting and significant impact on people’s lives.
And the report also calls on the government to take action to assist the sector, asking it to:
• Give housing associations control over their rents and who they house so they can provide the right homes at the right price for a range of tenants.
• Make more public land available for affordable housing.
• Release local authorities’ development capacity and transfer housing assets into bodies who could borrow money to support the development of new affordable homes.
• Ensure the planning system encourages sustainable housing growth and supports the development of economically and socially strong places.
The NHF's chief executive, David Orr, said: “Housing associations already provide 2.5 million homes for more than five million people and there is enormous strength and diversity in the sector – but there is also great potential, and an ambition to do much more.
“The availability and affordability of housing in much of England has reached crisis point and by 2033, if we don’t tackle the supply problem, things will be even worse. Rising house prices and interest rates coupled with stagnant wages will significantly increase the number of people needing housing before they buy, if they ever can.
“Over the next 20 years, housing associations will be crucial in helping meet the challenges of demographic changes, population growth, continued austerity and the failure of successive governments to address undersupply.
“I look forward to housing associations across England embracing our vision for the future and working together to unlock this massive potential.”