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PRIVATE INVESTMENT IN SOCIAL HOUSING TOPS£10 BILLION

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There are growing opportunities for private lenders to invest in social housing, said housing minister David Curry,...
There are growing opportunities for private lenders to invest in social housing, said housing minister David Curry, as he announced that private lending to housing associations has topped the £10 billion mark, providing almost 120,000 additional homes.

Speaking in London at the ROOF magazine housing debate, Mr Curry said: '£10 billion of private finance in the space of eight years is a substantial sum, and clearly shows the continuing confidence that investors have in social housing as a secure, long-term investment. 'Further opportunities continue to make social housing an attractive investment. The introduction of local housing companies, for example, offers lenders a new avenue for investment and provides affordable housing for those in need.

'Private investment has become an integral part of the provision of social housing - the days of exclusive state provision in this sector will not return.'

Sir Brian Pearse, chairman of the housing corporation, said: 'We are delighted that our partnership with government, associations and private lenders has secured this achievement, which emphasises the critical role of private finance in funding social housing in this country and produces extra homes for people who need them.

'We have succeeded in creating a climate of confidence for lenders by working in close partnership with them and associated professionals to upgrade our supervisory role and improve performance standards within the sector.

'There is an exciting future ahead and we hope this achievement marks a further step towards the evolution of a mature market involving both debt and equity funders.'

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