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UK Social Housing Annual Review 2019

February 5, 2020
  • adrian bell headshot


    Adrian Bell

    Social Housing

    Real Estate | London


In this review of the financial markets for housing associations in 2019, Chatham focuses on a number of developments which we believe will continue to support funding in 2020.

2019 has been a year of contrasts: A record period for housing association activity, with significant progress on development, supported by a substantial increase in funding despite the previous year’s large increases.

2020 is likely to see this change, following the election of a new Government with a large parliamentary majority which is looking to deliver a strong domestic agenda:

  • Shifting resources from the South of England to the Midlands and the North
  • Implementing new policies on the provision of housing

Housing associations are in a strong position to respond to these challenges after four years of adjusting to rent reductions:

  • A greater focus on generating a surplus to support future activity
  • Increased levels of operational efficiency, creating enhanced value for money
  • A growing commitment to the development of social housing
  • Greater willingness to tackle the inefficiencies of legacy funding
  • A significant improvement in the cost and management of debt

Lenders have responded to this by improving the terms and the volume of funding on offer; stimulated by:

  • Greater competition from new entrants to the sector, particularly from offshore lenders
  • Increased commitments to individual borrowers
  • Greater flexibility on the type and access of funding on offer

About the author


This material has been created by Chatham Financial Europe, Ltd. and is intended for a non-U.S. audience. Chatham Financial Europe, Ltd. is authorised and regulated by the Financial Conduct Authority of the United Kingdom with reference number 197251.