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Housing associations have nearly doubled their stock of ‘non-social’ homes in the past seven years, the latest figures show.
The number of ‘non-social leasehold’ units or bedspaces directly owned by register providers has increased by 27,037 since 2012, figures from the Regulator of Social Housing published today reveal. Seven years ago, registered providers owned 29,891 non-social leasehold units.
The biggest jump has been in the past year, with 8,446 more units falling into this category.
It comes amid increased focus on the commercial activity of housing associations, as fears mount over their exposure to private market uncertainties.
Today’s figures do not cover homes owned by housing association’s separate commercial subsidiaries. The regulator admitted that figures on non-social stock should be viewed with “caution” as data was limited.
It also said that non-social stock remained a “very small proportion” of stock owned by registered providers.
Around 85% of stock owned by housing associations is still classified as “low-cost rental”. This equates to 2.6 million units or bedspaces.
In total, the number of units or bedspaces owned by housing associations edged up to nearly three million, as of the end of March this year.
The regulator reported a 1% increase in low-cost rental stock, which includes general needs, supported housing and affordable housing tenures.
A 6% rise in low-cost homeownership units was also reported. The regulator noted: “The rate of increase in LCHO [low-cost homeownership] has been speeding up since 2017.”
The North West of England has the highest proportion of social housing, with 19% of the total stock, compared with 17% in London.
However with local authority stock, the capital accounts for 20% of all social housing in England, the regulator said. The East Midlands has the fewest units of social housing.