Rent Cut Pushes Associations To Slash Repairs

The largest reduction in costs for housing associations over the year was in major repairs, on which providers spent £2.1bn in the financial year – 14% less than in 2016, when they spent £2.4bn. Management costs, meanwhile, fell from £2.8bn to £2.6bn. This is twice as big as the decrease in major repairs spending that Inside Housing found at the start of the year in an exclusive survey. The HCA’s Global Accounts report said this was “to compensate for the rent reduction”, though it also forecasted that major repairs spend would increase again over the next few years. Download the report from the HCA website.