More RSLs get their house in order

2 Aug 07
Fewer housing associations are being placed under supervision after running into financial or management trouble, figures reveal.

03 August 2007

Fewer housing associations are being placed under supervision after running into financial or management trouble, figures reveal.

Just three associations joined the Housing Corporation's list of problem landlords last year, while nine cases were resolved. This meant the number of associations under supervision fell from 23 to 17 — the lowest number this decade.

Five years ago, 63 registered social landlords were being supervised by the corporation. Its annual report, published on August 1, says the trend follows the introduction of a regulatory code and the move towards risk-based regulation.

Corporation chair Peter Dixon praised the sector for taking greater responsibility for code compliance. 'It means we are well placed to make a success of the transition to the new post-Cave regulatory regime,' he added.

The global accounts for housing associations in 2005/06, published alongside the report, show that RSLs own properties worth £74bn — up by 9% on the previous year. But pre-tax surpluses fell by £124m to £320m.

PFaug2007

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