A number of housing associations are exploring launching their own for-profit registered providers to help fund development. The Housing and Regeneration Act 2008 allowed such bodies to register with the Regulator of Social Housing for the first time, and 53 have done so in the past decade, many of them developer subsidiaries or backed by equity firms. Read more on the Social Housing website.
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Housing - News - ‘A lot of housing associations’ now looking at for-profit RP
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Data collected by the Regulator of Social Housing (RSH) showed that 49 for-profit providers reported having 9,313 social homes compared with 5,342 in the year to March 2019. The data reflects the growth of the for-profit sector in recent years, with a number of high-profile private companies registering for-profit arms in recent times. These include asset management giant Legal & General setting up L&G Affordable Homes and Sage Housing which is owned by investment giant Blackstone. Both of these providers have begun delivering hundreds of homes through Section 106 and direct delivery. Read more on Inside Housing.
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