Archives for January 2009
Housing associations ”will get through financial downturn”
Housing associations have a good chance of making it through the financial crisis, an industry expert claims, in comments that could interest those searching for jobs in housing.
Despite the difficulties being experienced in the wider financial markets, such organisations are more likely to be in a position to survive, Steve Amos, head of Barclays” social housing division, tells Inside Housing.
And despite Ujima collapsing in January 2007, Amos states that "the sector is well capable of looking after its own" as the former housing association was "swiftly taken over" by the London & Quadrant Housing Group.
He adds that the six housing associations that are currently having problems getting to grips with their finances during the credit crunch "have the bit between their teeth and know what they have to do to get through and they will come through".
Last June, Peter Marsh – then the deputy chief executive of the Housing Corporation – claimed that social housing associations take action to make sure they can outlast the credit crisis.
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Affordable homes for rent ”are safe prospect in uncertain environment”
In spite of the difficulties being experienced in the wider property market, those with jobs in housing have been reminded that offering affordable homes for rent remains a safe option.
Speaking at a British Property Federation conference, Peter Marsh, chief executive of the Tenant Services Authority (TSA), states that although the credit crunch continues to rumble on "it’’s important to understand that investment in affordable homes for rent is a uniquely safe asset class in the property world".
Indeed, he claims that demand for affordable homes is currently outstripping supply by some 50 per cent, although this is growing on a week-by-week basis.
Furthermore, the TSA head states that as housing associations face an uncertain future, it is crucial that good governance practices are in place.
And while the largest threat to housing associations is a fall in shared ownership sales, he reminds those working for such bodies that there are strategies they can fall back upon, whether this is merging with larger organisations or making homes available to rent.
In a December letter, the TSA urged housing associations to ensure they monitor compliance with loan agreements and that all obligations of their financial arrangements are met.
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Investment unveiled for housing in West Midlands
Those searching for jobs in housing may wish to consider the West Midlands.
Following the unveiling of a government rescue package, the region is to receive millions of pounds in order to boost the housing industry.
Such investments include a £12 million fund which will see the homes that builders have been unable to sell due to the credit crunch purchased by the government to be offered as affordable housing.
Meanwhile, the North Solihull Partnership – which consists of Bellway Homes, the Whitefriars Housing Group, Solihull council and regeneration specialists Inpartnership – is to receive £9.5 million to finance the purchase of land for new housing developments in addition to the demolition of two tower blocks.
"We are working to continue developing the homes we need to maintain confidence in the housing market, to support jobs in construction and to maintain the skills we”ll need when the economy improves," Ian Austin, regional housing minister for the West Midlands and MP for Dudley North, states.
In other news, James Rowlands, policy officer for the Royal Institution of Chartered Surveyors, recently commended moves by housing minister Margaret Beckett to increase the number of council-built homes.
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£400m influx for Olympic Village
The Olympic Village for the London 2012 Games has been allocated almost £400 million in further funding, it has been revealed.
Some £394 million has been given over to the village, which could help to boost housing jobs in London.
This is by virtue of the plan to use the Olympic Village to create 3,000 new homes once the sporting event is over.
Olympics minister Tessa Jowell notes the high level of public investment into the development of the Olympic Village and nearby media complex.
"The public purse will receive a greater share of receipts when they are sold after the Games," she observes.
And with the extra funding announced, the construction project is able to continue despite lower levels of public sector investment during the current downturn.
The coming year could be a significant time for housing jobs in London as the construction of the Olympic Park is expected to peak with 20,000 employees in 2010.
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Seaside housing jobs given £12m boost
A total of £12 million is to be spent on seaside regeneration schemes, which could help to boost housing jobs in the affected regions.
The Commission for Architecture and the Built Environment (CABE) reveals that four seaside towns are to receive the financial assistance.
Some £3 million is to go to Great Yarmouth to convert a listed chapel into an arts centre.
Potential housing jobs are also to be created as historic King Street buildings are to be repaired.
Meanwhile, Bridlington’’s Spa Theatre complex is to undergo a redesign as the town spends its own £3 million share of the grants.
In Southport, £4 million is to be spent upgrading and protecting the Lord Street region to provide more attractions.
And £2 million goes to Hastings for the creation of a new cultural centre, which could boost the desirability of the destination for residents and tourists alike.
CABE explains that Sea Change attempts to reverse some of the decline caused in seaside resorts due to poor transport links or low-quality housing that has yet to be improved.
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Rics commends government housing scheme
Moves by the government to help those with housing jobs to increase the number of properties built by councils have been praised by one industry body.
Commenting on the announcement by housing minister Margaret Beckett earlier this week, the measures to "boost housing supply" must be welcomed, James Rowlands, policy officer for the Royal Institution of Chartered Surveyors (Rics), states.
He adds that the government proposals could be of particular assistance as the number of homes set to be built over the course of this year is "likely to fall below 80,000".
"Action must be taken as quickly as possible to have an impact on the market in the short term," the Rics policy officer points out, as he calls on local councils to work together with both private developers and housing associations to make sure that this happens.
Plans unveiled by Ms Beckett would see local authorities keep all rental income received for homes they build, money which could then be used to build more council properties.
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Beckett reveals council housing proposals
Councils could be set to receive more financial assistance in building properties, those with jobs in housing may be interested to hear.
Government proposals may see local authorities being allowed to keep hold of all the rental income received from any homes they build.
In addition, councils can retain money from such properties which are later sold through the Right to Buy scheme, as it is suggested that such cash could be used to help build more homes.
"These new freedoms will encourage councils to play a bigger role in driving forward the delivery of new affordable homes for families in housing need," Margaret Beckett, minister for housing, claims.
She adds that the government is "determined to help keep house building going in the current climate" as there will continue to be a demand for more homes in the long term.
In other news, Sarah Teather, shadow housing minister for the Liberal Democrats and MP for Brent East, recently called on the government to take advantage of the financial crisis by purchasing land on which to build social housing.
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Housing sector ”needs to understand HIV”
Those with housing jobs should do more to provide a good level of services to those with HIV.
Findings published by the National AIDS Trust (NAT) and Shelter show people with the virus are often struggling to cope with the impact of poor quality housing.
Indeed, earlier NAT research carried out in 2002 indicated that more than a fifth of those Britons with HIV had experienced housing-related difficulties during the preceding year.
Meanwhile, a significant number of housing professionals are shown to have little understanding of HIV, with some instances revealing outright discrimination against those with the condition.
"The housing needs of people with HIV are under reported and often overlooked," a Shelter spokesperson claimed.
Deborah Jack, chief executive for the NAT, added that although the condition should not necessarily be at the top of the priority list "housing officials must understand HIV and its effect on people’’s lives".
Last month, Adam Sampson chief executive at Shelter, claimed that vulnerable people were particularly struggling to find good-quality housing as the economic crisis rumbles on.
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Teather calls for addressing of “social housing crisis”
More must be done to increase the provision of social housing.
The government has been called upon by Sarah Teather, shadow housing minister for the Liberal Democrats and MP for Brent East, to take advantage of the current financial crisis and take steps to build more homes, those with jobs in housing may be interested to hear.
"While land prices are cheap the government has an historic opportunity to address the social housing crisis," she says, adding councils should be given more powers to borrow money with which to build properties.
Ms Teather also claims that a "comprehensive building programme to meet the desperate shortage in social housing" needs to be in place, something which could also provide a boost to the construction industry.
If such moves are not implemented, she suggests that a significant number of housing jobs may be cut.
Earlier this month, Vince Cable, Treasury spokesperson for the Liberal Democrats, stated that as prices continue to fall the government should look to buy land with which to encourage housing associations and councils to build affordable homes.
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Mortgage rescue scheme extended
Those with jobs in housing that work with vulnerable families might be interested to hear that the government is to extend its mortgage rescue scheme throughout England.
Under the initiative, those households with a total annual income of up to £60,000 will be able to apply for one of two options from their local council aimed at helping them avoid repossession of their home.
The first choice will see consumers be able to sell their property to a housing association, remaining in it as tenants and paying a subsidised rent.
Alternatively they can opt to sell a share of their home to such a housing body, in a move that will see their monthly mortgage repayments reduced.
The government predicts that some 6,000 households will be able to protect themselves from being repossessed during the next two years as a result of the new scheme.
Minister for housing Margaret Beckett points out the £200 million scheme forms just "part of a range of measures the government is putting in place to help households at risk of repossession in the current climate".
In other housing news, the government recently reported that an £18 million deal between the Homes and Communities Agency and Bovis Homes will see families enter 379 homes made available on an affordable basis.
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