Special Report Preview: Cost of funds falls but fewer HAs on cheapest rates

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Housing associations’ average cost of funds fell slightly in the last financial year to 4.59 per cent.

Social Housing’s annual analysis of the average cost of debt at UK’s largest 130 associations at the 2014/15 year end found the rate was 5 basis points lower than the 4.64 per cent average of 2013/14.

However it was above the 4.54 per cent average cost in 2012/13.

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During the period the Bank of England base rates also remained at a historic low of 0.5 per cent. The

value of gilts also hit a low point during the year - so all in cost is lower - but spreads have risen generally.

The sector in England continued to source an increasing amount of debt from the capital markets, according to The Homes and Communities Agency’s Global Accounts for 2014/5.

Our analysis looks at the average price of debt for the largest associations using data from their 2014/15 accounts.

Subscribers to Social Housing magazine receive access to 15 exclusive reports published throughout the year, along with an online library of archived reports carrying a wealth of data that enables you to track trends across the social housing sector on anything from capital commitments, financial results, asset sales, affordable homes programme allocations and investment, staff pay & turnover and executive pay.

Social Housing has been the sector’s respected go-to financial publication and point of reference for the last 25 years, providing an objective monthly insight into the most significant finance, business and governance developments across the sector. We also publishes regular online news and weekly newsletters.

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We provide in-depth news coverage and analysis of housing funding deals, partnerships and projects, with a level of detail you won’t find anywhere else. The magazine also carries comment and technical columns from leading members of the sector, interviews and analytical features, along with a Businesswatch section that tracks financial trends.

Read predominantly by the housing sector’s chief executives, finance directors and senior practitioners, along with financiers, professional services and the supply chain, the magazine also covers senior appointments and is used to advertise executive-level job vacancies.

We hold two high-level conferences each year attended by directors from across the sector, as well as smaller ‘face to face’ events. Our next event is the finance conference in November 2015.

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