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October 2018 Special Report Preview: Special report: Affordable rent numbers fall for first time in five years

Total affordable rent units see a 5% fall

Affordable_rent_profile_1_new.jpg
Affordable_rent_profile_1_new.jpg

The number of affordable rent (AR) lettings signed by housing providers for 2016/17 has dropped for the first time since the tenure was introduced five years ago.

 

Social Housing’s analysis of AR letting volumes and AR rent levels for the year to March 2017 shows that lettings decreased by five per cent to 44,645, from 47,173 in 2015/16.

 

Average weekly AR rent levels in London (which has consistently had the highest regional average), meanwhile, hit £181.94 – £25.02 more per week than when Social Housing began its AR special reports in 2012/13.

 

AR enables providers to charge up to 80 per cent of market rents. Introduced by the 2010 coalition government, the idea behind the policy was that housing associations could use the additional income generated by the higher rent rates to offset the impact of lower government capital subsidy.

 

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Summary of affordable rent lettings

Affordable rent lettings
Affordable rent lettings Change on year Conversions to affordable rent Other general needs lettings Total general needs lettings made in year Affordable rent as a % of total general needs lettings
2011/12 6,024 n/a 4,533 175,853 181,877 3%
2012/13 29,793 395% 23,877 148,581 178,374 17%
2013/14 38,647 30% 25,930 154,898 193,545 20%
2014/15 45,668 18% 21,306 151,736 197,404 23%
2015/16 47,173 3% 17,216 147,971 195,144 24%
2016/17 44,645 -5% 12,754 122,344 166,989 27%

Source: Regulator of Social Housing, Statistical Data Return 2017 to 2012

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Tel: 0207 772 8300

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