Housing association turnover exceeds £10 billion

The housing association sector turnover exceeded £10 billion for the first time in 2008, according to the Tenant Services Authority's (TSA) Global Accounts.

Launched today at the National Housing Federation Finance Conference by Chief Executive Peter Marsh (pictured), the Global Accounts 2008 (April 2007 to end March 2008) demonstrate the sector to be in sound financial health and growing in a balanced way.

The sector grew faster than in the previous year, with turnover up by 10.7%, the value of housing association properties up 10% to £85.2 billion, and surplus before tax up 21% to £328 million.


Other highlights of the 2008 figures include:

• Operating costs have grown more slowly (by 8.4%) to £8.1 billion, leading to an increase in operating surplus of 11.2% to £1.6 billion
• Levels of voids and bad debts reported by associations remain at historic lows, suggesting continued strong demand for their properties, together with good performance on rent collection.

Please click here for the full report