But development revenue is static as a proportion of turnover
Development of property for sale made up 14 per cent of housing association turnover in 2016/17.
Social Housing analysed income from first tranche shared ownership and homes built for sale in the 2017 accounts of 139 associations in England. The figures continue a trend seen in recent years of non-social housing development sales making up a significant proportion of housing association turnover as providers look to offset the decrease in grant.
That said, there was no year-on-year change in development activities as a share of housing association total turnover, with 2015/16 also standing at 14 per cent.
Non-social housing income dropped by ....
|First tranche sales||Non-social housing development||Total development income||Development activities as a share of total turnover|
|Income, £m||Change on year||Income, £m||Change on year||Income, £m||Change on year||2016/17||2015/16|
|72 housing associations above £4m||1,018.9||2%||1,371.1||-4%||2,390||-1%||17%||18%|
|67 housing associations below £4m||74.7||-20%||6.3||-31%||81||-21%||2%||3%|
|Total 139 housing associations||1,093.6||0%||1,377.4||-4%||2,471||-2%||14%||14%|