In many ways, things should be looking up for the housing association sector. The rampant inflation seen a few years ago has reduced and the current government shows every sign of ploughing ahead with its £39bn Social and Affordable Homes Programme, albeit with some funds likely to be redirected to town halls. The sector’s securing of a 10-year rent settlement, the return of convergence, access to building safety funding and a low-cost loans programme have all been hailed as wins for registered providers in England.

However, the environment remains difficult and housing associations are continuing to juggle many competing priorities.