industry news
Wales introduces performance standards
The Welsh social housing regulator is introducing a series of governance and viability standards in January, as part of a new package of housing association performance measures. Like their counterparts in England,
housing associations in Wales will be judged against standards on their financial viability and governance. But in addition, social landlords in Wales will also have to meet standards for tenant services. The Welsh regulator has been consulting
on a number of deregulatory measures to reverse the Office for National Statistics’ decision to reclassify housing associations into the public sector. It has decided to introduce annual ratings
in order to retain private lenders’ confidence in the sector. As in England, there will be four gradings for each standard, as follows:
• Standard, which means the organisation identifies and manages new and emerging risk appropriately
• Increased, which means increased oversight is necessary
• Intervention, which means intervention is necessary
• Statutory action, which means statutory action is required to effect change
Association boards will also be required to sign off compliance statements saying how effectively they are meeting the regulatory standards.
“Social landlords in Wales will also have to meet tenant services standards in addition to financial viability and governance”
Autumn Statement boost for housing associations
lifted in the Autumn Statement. Chancellor of the Exchequer Philip Hammond
H
announced £1.4bn in funding for 40,000 homes and said greater flexibility can be used in spending the £4.7bn for the Shared Ownership and Affordable Homes Programme to 2021. Originally the programme contained no
money for new sub-market rental homes with its focus directed towards house ownership schemes. Now that restriction has been lifted and the money can be used for building affordable rented, shared ownership and rent- to-buy homes. This still leaves a huge question mark over the
building of new homes for social rent, as opposed to affordable homes at 80 per cent of market rents. New social rent housing is becoming a higher requirement for many local authorities and this is being reflected in local plans. A Treasury spokesman said the new
flexibilities did not extend to social rented housing, but it is unclear how much control associations will have over setting their own affordable rents. In addition, Housing Minister Gavin Barwell
has said while he welcomes the greater flexibility over use of the money, he still expects developing associations to maximise their output of new homes. The policy U-turn followed several months of lobbying from the social housing sector.
Right direction
The Chartered Institute of Housing welcomed the funding announcements as a ‘significant step in the right direction’, but would have liked to see more funding diverted specifically to
ousing association bosses are planning to deliver more homes for sub-market rents after funding restrictions were
Key announcements
• £1.4bn in funding for 40,000 homes
• Spending flexibility for HAs in the £4.7bn Shared Ownership and Affordable Homes Programme
• £2.3bn Housing Infrastructure Fund to help deliver 100,000 new homes
• £3.15bn affordable housing settlement with the GLA to deliver over 90,000 London homes
support social rents. A CIH spokesman also called for a ‘strategic
rethink on welfare measures’ as it is believed they currently make housing inaccessible to a significant number of individuals and families In a further boost to the sector Mr Hammond
also announced a £2.3bn Housing Infrastructure Fund that aims to provide the infrastructure for supporting the development of around 100,000 new homes in the areas with highest demand. The Government also confirmed the Greater
London Authority’s (GLA) affordable housing settlement, under which the GLA will receive £3.15bn to deliver over 90,000 homes, starts by 2020-21. The Chancellor announced that a housing
white paper, focused on further increasing supply of new homes, will be published in due course.
www.housingmmonline.co.uk | HMM January 2017 | 9
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