“With the credit crunch and general downturn, the economic world has been turned on its head,” he said.
The social housing sector “like most sectors across the globe” is facing some financial challenges.
“However, the finances of the housing association sector remain robust and strong”, with its underlying income stream coming from social rent. This source of finance remains secure.
“With increased flexibility from partners and stakeholders, the sector will continue successfully to deliver new homes and strong communities.”
He added: “Over the last 20 years, housing associations have operated the most successful public-private partnership on record – levering in £50bn of private finance, in return for £40bn of public investment.
“And with the same level of innovation, I am sure that associations will be able to carry on delivering effectively despite the current economic backdrop.
“At this current challenging time, the Federation will continue to work closely with the TSA, Homes and Communities Agency, the Government and other stakeholders, to ensure that associations are able to do their work as effectively as possible.”
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