Social housing regulator releases quarterly survey
It’s quarterly survey of private registered providers (PRPs) that own or manage more than 1,000 homes time – so:
Based on regulatory returns from 229 PRPs, the Regulator of Social Housing’s (RSH) latest report reveals that the quarter featured £2.2 billion in new finance (£1.3bn from banks and £0.8bn from capital markets); £0.5bn in loan repayments; and £18.6bn of undrawn facilities in place. Debt facilities now total over £90bn.
Got that? Moving on, cash balances total £6.6bn which the RSH says is ‘forecast to reduce in the next 12 months to £4.3bn as cash is used to fund planned capital expenditure’.
Additionally, ‘operational financial performance exceeded expectations. Cash interest cover excluding current asset sales was 165%, compared to a forecast 140% for the quarter’.
As for total sale receipts, the quarter totalled £1.3bn – 7% below June’s forecast of £1.4bn. Well, how about a fresh forecast? The RSH says the sector expects £6.4 billion of sales receipts in the 12 months to September 2019.
Around 3,200 affordable home ownership (AHO) units were built, with around 3,300 sold. The report reads: ‘There was no material change in the number of unsold units. However, the number of units unsold for more than six months was 1,400, a 39% increase on the previous quarter.’
For a great deal more details, have a read of the RSH’s report.