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New regulation publication for social housing sector

The UK social housing sector is set to benefit from the publication of a new report from the Homes and Communities Agency (HCA) outlining the impact of present and impending legislation upon the industry.

Regulating the Standards is a new document from the HCA that delivers clarification for those operating in the sector regarding the standards they are expected to maintain, as well as ensuring landlords and organisations are clear on how the HCA carries out its decision-making process.

According to Matthew Bailes, director of regulation at the HCA, the report provides assurances that a strong regulatory approach will continue to be taken in the years to come.

Chief executive of the HCA Pat Ritchie commented: "Given the pace of change and emerging risks, robust and independent economic regulation is absolutely vital. 

"It is core business of the new HCA and we [are] working hard to develop the function so it keeps pace with the market we are regulating."

Regulating the Standards includes the objectives of the current regulatory framework, explaining the underlying reasons the regulator asks the questions it does and how it arrives at its judgements.

As part of the publication, the HCA disclosed its aims for the social housing industry in the future, with a commitment to ensure a safeguarding of the reputation of the industry, as well as highlighting the need to deliver value-for-money improvements to the current UK housing stock.

Earlier this month, Mr Ritchie argued the tackling of the ongoing housing crisis that is being seen across the country at present is set to rely on organisations such as PlaceShapers to deliver more homes for the growing population.

He noted PlaceShapers in particular has played a key role in the provision of new homes over recent years, having created more than 21,000 new properties between 2006 and 2010, while it is now in a position to deliver a further 21,000 after securing additional funding of £2.7 billion. 

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