Social housing sector in strong financial position, HCA says

The latest survey from the Homes and Communities Agency (HCA) highlights that the social housing sector is in good financial shape, with access to sufficient finances.

The survey revealed that the sector currently has access to £14 billion in undrawn facilities and £5.6 billion in cash. It found that 97 per cent of providers maintained they had enough debt facilities to last for more than 12 months.

The cash interest of the sector covering until 21 December 2016 is projected to be around 184 per cent, with the net operating cashflow predicted at £5.7 billion for the same period.

The figures also show that the majority of the sector’s debt requirement over the coming year continues to be for the purpose of funding development programmes.