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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.

Subscribe to see a full breakdown by housing association.

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.

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