Efficiency is key to riding out credit crunch

Housing Corporation News Release

Efficiency is key to riding out credit crunch says Housing Corporation Deputy Chief Executive in Harrogate speech

Tuesday 17 June 2008        44/08

Efficiency is the key to riding out the credit crunch, Housing Corporation Deputy Chief Executive Peter Marsh said today in a keynote speech to delegates at the Chartered Institute of Housing conference in Harrogate.

Peter Marsh’s speech explored how the housing association sector can deal with difficult economic conditions by having in place survival strategies and recognising opportunities that exist, such as product diversification including flexible tenure and managing core business efficiencies to generate more capacity.

Housing Corporation Deputy Chief Executive Peter Marsh said, “The single most significant variable in housing association 30 year business plans is not interest rates or sale but operating cost inflation. Increasing efficiency of existing stock may be the most appropriate response to financial challenges faced by new build.”

Ends

For more press information: Terry Sefton on 020 7393 2118 / 079 4023 7389.

Notes to editors:

1) The Housing Corporation is the Government's national affordable homes agency, responsible for investing in new affordable homes  and regulating nearly 2,000 housing associations who provide some two million homes across England.
 
2) The Corporation's £8 billion investment programme for 2008-11 is its biggest ever, set to fund at least 155,000 homes. Over 100,000 of these are for affordable rent and more than 50,000 for affordable sale through the Government's HomeBuy initiatives, helping people get a foot on the property ladder.

3) The Housing Corporation is working with Communities and Local Government and English Partnerships to establish the proposed Homes and Communities Agency and Tenant Services Authority.