The economy
Housing associations are an integral part of a diverse ecology of enterprise activity aimed at meeting socio-economic-social objectives. With a combined collateral worth of plus £1 billion turnover and £4 billion assets this represents a powerful economic proposition. Historically, there has been an overly simplistic attempt to quantify housing associations’ economic contribution, reflecting social return on investment (SROI), which has not gained necessary traction and credibility. In doing so, it has negated the expensive impact made in local economies, infrastructure, skills, health and wellbeing, flood defence, in addition to house building and construction.
As a member of the family of anchor institutions, there is little evidence of the sector encouraging spin-outs, market making and support for the social economy. Yet there are few better placed with an understanding of the broad investment sector and the development of new tools and markets.
Housing associations have an important role in local, sub-regional, regional and national economic recovery.