This briefing was provided as part of a Westminster Hall debate on the future of social housing on the 19 April 2023. 

It summarises the findings from recent research undertaken by Savills and commissioned by the LGA, ARCH and NFA which finds that cost pressures in the sector are causing councils to struggle to deliver new social housing. 

The NFA is calling for:

1. The Government to review the long-term financial sustainability of the Housing Revenue Account. 

2. Social landlords to be permitted to increase rents by CPI+1% from 2024 and a longer-term review of rent setting should be undertaken by the Government to place the sector on a more secure financial footing.

3. Affordable/Social Housing Grant funds should be made available for replacement housing as well as net additions on regeneration sites to remove a significant barrier to bringing schemes forward to replace stock no longer fit for purpose.

4. Right to Buy discounts should be reviewed to ensure they allow for one-to-one replacements for social housing that is sold, without dampening demand for the scheme