News 09/11/18: the inside story of a housing association that almost went bust
First Priority: the inside story of a housing association that almost went bust
When a small supported housing provider entered into a series of leasing deals with investment funds, it nearly spelled disaster for its vulnerable tenants. Luke Barratt finds out what happened
At stake are the homes of 759 of the UK’s most vulnerable adults, including many with learning difficulties, brain injuries or physical and mental disabilities. If things go wrong, warns one investor, these people could be “out on their ear”.
For the full article from Inside Housing, read on here.
Landlords pushing up rents to exploit housing benefit shortfall
Benefit cuts and unscrupulous landlords have combined to create an explosion in temporary housing that is costing taxpayers more than a billion pounds a year.
The latest figures reveal that housing benefit does not cover rents in 95 per cent of the country, pushing thousands of families into homelessness. The gap between welfare support and costs is more than £100 a month in much of England and in excess of £900 in central London.
For the full article, read here.
Housing associations must change the way they fill in accounts, regulator says
The Regulator of Social Housing is making minor changes to the way it requires housing associations to fill in their accounts.
It plans to align its requirements with the Value for Money Standard introduced in April, which judges whether social landlords are delivering value for money.
This includes seven metrics that providers will have to report against and some provision for this will now need to be made in their accounts.
Associations will be consulted on these changes over the next six weeks.
For more information on the social housing, click here.
Expert warns the housing market is set for its worst slump in forty years – with houses expected to plunge up to 20 per cent
Australia’s housing market is set to decline even further than initially reported, with fears it could plummet to the worst price decline seen in 40 years.
Initially predicting a four to six per cent fall in national housing prices, Macquarie Bank experts are now reporting price declines are to fall even lower, with Sydney and Melbourne expected to be hit the hardest.
As the overall crash is now approaching 10 per cent, this could be potentially ‘the largest peak-to-trough decline’ in housing prices in almost 40 years, Business Insider reports.
For more information on Australia’s housing market, read here.