How affordable is affordable housing?

At the end of 2015 Flagship Group commissioned the Centre for Regional Economic and Social Research (CRESR) at Sheffield Hallam University to assess the affordability of its housing products. The research was commissioned as it became clear that a number of external changes were likely to affect the context in which Flagship operated as well as the affordability of its housing products. These include: Welfare reform: since their election in May 2015, the Conservative Government have outlined a range of additional welfare reforms that are likely to affect the incomes of many Housing Association tenants. These include the extension of the overall benefit cap, freezes on various working age benefits and the continued roll out of Universal Credit Housing policy: the Housing and Planning Act (2016) outlined a number of changes to housing policy including the introduction of ‘pay to stay’ for social renters on higher incomes. The Act also provides funding for the extension of the Right to Buy to Housing Association tenants Governance and role of Housing Associations: the government is reassessing the governance of Housing Associations through a review of the Homes and Communities Agency. These changes provide both opportunities and challenges for Housing Associations as they assess their future roles The objectives of the research were to: Understand what rent affordability means and how it impacts on customers Identify how affordability differs by geography and key tenant characteristics Understand the impact that imminent welfare and other wider changes will have on affordability. This report provides detailed analysis of the key findings from the research. A summary analysis can be found here www.flagship-group.co.uk/research.