The Regulator for Social Housing has published its ‘Value for Money Metrics and Reporting 2022’. The key focus of the report is the importance of social housing providers delivering value for money by making the best use of their resources to achieve their objectives. This forms the basis of the provision of good quality homes and services, and the building of new homes. 

The challenges currently being faced by providers make value for money more significant. The findings of the report showed that around half of the costs faced related to spending on maintenance and repairs. The report found that investment in existing stock had increased to £6.5 billion, which was a 20% growth on the previous year’s figure. This may have been impacted by lockdown, but the figure is also significantly higher than pre-pandemic spending. There was also an increase of £9,000 in the amount of social housing properties being completed in 2022. 

Value for money is one of the Regulators’ standards and providers are required to report their performance against value for money measures set by the Regulator, annually. 

The conclusion of the report is that the consistent levels of development and additional expenditure on existing stock has led to tighter operating margins and decreased levels of interest cover.  There is increased uncertainty economically and providers will need to continue to meet their core objectives and deliver in line with their strategic directions while mitigating the economic, social, and financial impacts of the current environment. 

To read the report in full click here.