Branch Secretary : suz.muna.unite@gmail.com
  

Savills: housing association profit margins increase

As Unite reps are discussing this year’s pay round with management further evidence confirms the remarkable profitability of housing associations.

 

Seriously impressive margins

 

Despite the government enforced cut in social rent, associations have actually boosted their margins in core social rent activities according to a new report from Savills.  As Inside Housing has reported, Chris Buckle, director at Savills Residential Research, revealed the sector had increased its core margins from 32.3% to 34.5% at the Social Housing Finance Conference last week, saying the sector’s achievements were “seriously impressive”.  There was no general difference between large and small associations although margins were highest in high rent areas in the south.

 

Unrealistic workloads

 

We have previously reported in detailed evidence from Moody’s and from Vantage Business Solutions  which also demonstrate that staff costs and repairs have been cut.  Of course we know both from our surveys of members, and from independant surveys, that staff feel that poorly handled restructuring and cuts mean unrealistic workloads and high stress levels.  Many workers in the sector are going further in to debt and we have reported on Inside Housing research that shows a deepening housing crisis affecting workers in the social housing sector.

 

No wonder workers at Torus Group are saying ‘enough is enough’! How is your pay claim going?

 

 

Paul Kershaw 10 May 2018

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