In the week commencing Monday 11 December 2023 the Regulator of Social Housing (RSH):
- published 61 Regulatory Judgements in which 52 providers retained their existing gradings for Governance and Viability. First assessments were published for four providers – North London Muslim HA (G1/V1), Sage Homes, Sage Housing and Sage Rented (all G1/V2). Three providers – Black County, Gateway and One Vision – were re-graded from V2 to V1, whilst Teign was re-graded from V2 to V1. Origin was downgraded from G1/V2 to G3/V3 with the RSH saying “It was disappointing that the provider was aware of issues but did not promptly communicate them to the regulator”
- published two Regulatory Notices for breaches of the Consumer Standards. Wigan Council breached expectations in relation to gas safety, carbon monoxide detectors and electrical installations. Woking Council breached expectations in relation to fire safety and smoke detectors and
- launched its Global Accounts for the year to 31 March 2023, in which the social housing sector’s aggregate interest cover (excluding all sales) stood at 103%, the lowest since 2010. Interest cover has continued to fall in the current financial year. The RSH says it “has assurance that the sector remains robust, but individual providers have less financial headroom and their capacity to absorb downside risk is reduced”.