Scots social landlords plan 30,000 new homes

Scotland’s registered social landlords (RSLs) plan to develop more than 30,000 new homes and invest £1.7 billion in existing homes over the next five years, according to a report from the Scottish Housing Regulator.

“RSLs’ financial projections show aggregate financial performance should remain robust over the next five years,” said the regulator.

“However, RSLs also continue to face a very challenging operating context …

“The report is an overview of the RSL sector’s financial plans as at May 2022 for the next five years.

“It shows that RSLs’ were forecasting continued surpluses, and annual growth of 5% on average.

“They also forecast significant investment in new and existing homes with plans to develop more than 30,000 new homes and invest £1.7 billion in existing homes over the next five years.”

Shaun Keenan, Assistant Director of Financial Regulation at the Scottish Housing Regulator, said: “RSLs continue to work in a complex and uncertain economic landscape.

“RSLs submitted their projections at a time when the economic outlook remained extremely uncertain and volatile and since then, the outlook has worsened considerably.

“This will have impacted RSLs’ business plans and is likely to have led to RSLs’ making significant changes to their financial projections since they submitted them to us.

“RSLs continue to face challenges and uncertainty in the national and global economy including significant cost increases, high energy costs, high and increasing interest rates and supply chain disruption and labour scarcity.

“All whilst continuing to work to deliver on net zero, build back from COVID, and providing new and existing, affordable homes and service for tenants and service users.

“We will continue to work closely with landlords, tenants and all of our stakeholders as we all work to tackle the financial challenges ahead.”