Welsh housing associations: housing providers or economic and regeneration agents?
Since 2008, Community Housing Cymru, the membership body for housing associations in Wales, has commissioned the Welsh Economic Research Unit at Cardiff University to calculate the wider economic impact of housing associations in Wales. The social housing scene in Wales has changed dramatically over the past five years, with an influx of yes votes for local stock transfer ballots and as a result the wider economic impact of has the sector has continued to grow, even in these austere times.
Welsh housing associations are mature social businesses and, as the findings of the report suggest, have the ability to assist Welsh communities to emerge from austerity.
The independent report notes that in 2011/12, 1,973 new affordable homes were built, more than a quarter of the 7,500 target set by Welsh Government earlier this year. 73% of these homes were built using Social Housing Grant. The Social Housing Grant budget last year grew from £69.2 million to £96.9 million with additional funding from the Economic Stimulus Package Funding and other Welsh Government reserves, internal transfers and receipts. However, with a predicted 40% cut in investment over the coming years, production could fall to around 850 homes a year. Critically the social housing sector is the only area of major capital expenditure which is levering in so much additional private sector investment. If current investment is not sustained, we are in danger of failing to reach the 7,500 target.
Bricks and mortar aside, providing good quality housing also has to be matched with improving social and environmental conditions in order to ensure that residents enjoy a high quality of life. Matching housing aspirations with improvements in employment, health and education are all part of the wider regeneration process and Welsh housing associations are playing a key role.
The report clearly demonstrates this. Welsh housing associations spent £951 million in 2011/12. This was an increase of 16% from the previous year and almost 80% of that spend was retained in Wales. The amount spent regenerating Welsh communities also increased to £493.2 million, up 14% on the previous year. 57% of the regeneration spend was on repair and maintenance as housing associations bring their properties up to the Welsh Housing Quality Standard (WHQS).
The contribution the sector made to employment also rose, with 7,500 people directly employed by a housing association, and for every direct job provided, nearly two other jobs were supported by the sector. In 2011/12, this amounted to 20,200 full time equivalents across Wales, a rise of 15% from the previous year.
If Wales is to recover economically, policy makers need to invest in housing. By investing in our sector – a sector with the ability and track record to deliver – we can build our way out of recession and create hundreds of jobs in the process, while increasing supply to ensure that the people of Wales have access to secure and affordable housing, in communities where they want to live.
Nick Bennett, Group Chief Executive of Community Housing Cymru.
To view the full report please visit <a href=\"Welsh housing associations: housing providers or economic and regeneration agents?
[summary report and main report cover and pics – can you extract some pics from the summary report]
Since 2008, Community Housing Cymru, the membership body for housing associations in Wales, has commissioned the Welsh Economic Research Unit at Cardiff University to calculate the wider economic impact of housing associations in Wales. The social housing scene in Wales has changed dramatically over the past five years, with an influx of yes votes for local stock transfer ballots and as a result the wider economic impact of has the sector has continued to grow, even in these austere times.
Welsh housing associations are mature social businesses and, as the findings of the report suggest, have the ability to assist Welsh communities to emerge from austerity.
The independent report notes that in 2011/12, 1,973 new affordable homes were built, more than a quarter of the 7,500 target set by Welsh Government earlier this year. 73% of these homes were built using Social Housing Grant. The Social Housing Grant budget last year grew from £69.2 million to £96.9 million with additional funding from the Economic Stimulus Package Funding and other Welsh Government reserves, internal transfers and receipts. However, with a predicted 40% cut in investment over the coming years, production could fall to around 850 homes a year. Critically the social housing sector is the only area of major capital expenditure which is levering in so much additional private sector investment. If current investment is not sustained, we are in danger of failing to reach the 7,500 target.
Bricks and mortar aside, providing good quality housing also has to be matched with improving social and environmental conditions in order to ensure that residents enjoy a high quality of life. Matching housing aspirations with improvements in employment, health and education are all part of the wider regeneration process and Welsh housing associations are playing a key role.
The report clearly demonstrates this. Welsh housing associations spent £951 million in 2011/12. This was an increase of 16% from the previous year and almost 80% of that spend was retained in Wales. The amount spent regenerating Welsh communities also increased to £493.2 million, up 14% on the previous year. 57% of the regeneration spend was on repair and maintenance as housing associations bring their properties up to the Welsh Housing Quality Standard (WHQS).
The contribution the sector made to employment also rose, with 7,500 people directly employed by a housing association, and for every direct job provided, nearly two other jobs were supported by the sector. In 2011/12, this amounted to 20,200 full time equivalents across Wales, a rise of 15% from the previous year.
If Wales is to recover economically, policy makers need to invest in housing. By investing in our sector – a sector with the ability and track record to deliver – we can build our way out of recession and create hundreds of jobs in the process, while increasing supply to ensure that the people of Wales have access to secure and affordable housing, in communities where they want to live.
Nick Bennett, Group Chief Executive of Community Housing Cymru.
To view the full report please visit http://bit.ly/SXmPPu
Welsh housing associations: housing providers or economic and regeneration agents?
[summary report and main report cover and pics – can you extract some pics from the summary report]
Since 2008, Community Housing Cymru, the membership body for housing associations in Wales, has commissioned the Welsh Economic Research Unit at Cardiff University to calculate the wider economic impact of housing associations in Wales. The social housing scene in Wales has changed dramatically over the past five years, with an influx of yes votes for local stock transfer ballots and as a result the wider economic impact of has the sector has continued to grow, even in these austere times.
Welsh housing associations are mature social businesses and, as the findings of the report suggest, have the ability to assist Welsh communities to emerge from austerity.
The independent report notes that in 2011/12, 1,973 new affordable homes were built, more than a quarter of the 7,500 target set by Welsh Government earlier this year. 73% of these homes were built using Social Housing Grant. The Social Housing Grant budget last year grew from £69.2 million to £96.9 million with additional funding from the Economic Stimulus Package Funding and other Welsh Government reserves, internal transfers and receipts. However, with a predicted 40% cut in investment over the coming years, production could fall to around 850 homes a year. Critically the social housing sector is the only area of major capital expenditure which is levering in so much additional private sector investment. If current investment is not sustained, we are in danger of failing to reach the 7,500 target.
Bricks and mortar aside, providing good quality housing also has to be matched with improving social and environmental conditions in order to ensure that residents enjoy a high quality of life. Matching housing aspirations with improvements in employment, health and education are all part of the wider regeneration process and Welsh housing associations are playing a key role.
The report clearly demonstrates this. Welsh housing associations spent £951 million in 2011/12. This was an increase of 16% from the previous year and almost 80% of that spend was retained in Wales. The amount spent regenerating Welsh communities also increased to £493.2 million, up 14% on the previous year. 57% of the regeneration spend was on repair and maintenance as housing associations bring their properties up to the Welsh Housing Quality Standard (WHQS).
The contribution the sector made to employment also rose, with 7,500 people directly employed by a housing association, and for every direct job provided, nearly two other jobs were supported by the sector. In 2011/12, this amounted to 20,200 full time equivalents across Wales, a rise of 15% from the previous year.
If Wales is to recover economically, policy makers need to invest in housing. By investing in our sector – a sector with the ability and track record to deliver – we can build our way out of recession and create hundreds of jobs in the process, while increasing supply to ensure that the people of Wales have access to secure and affordable housing, in communities where they want to live.
Nick Bennett, Group Chief Executive of Community Housing Cymru.
To view the full report please visit www.chcymru.org.uk