Housing associations’ repairs spend increases 14% in a year as providers focus on improving existing homes, says regulator
Housing associations in England increased their annual spend on repairs and maintenance by 13% in 2024/25, according to the regulator’s analysis of 200 providers.
The Regulator of Social Housing’s (RSH) annual global accounts report shows registered providers spent £10bn in the year to 31 March on repairs in total, up from £8.8bn the previous year. Capitalised spend increased from £3.3bn to £3.9bn while routine and planned maintenance rose from £4.7bn to £5.3bn.
RSH said the rise, which was well above inflation, was driven by “an increase in stock surveying activity, the ongoing management of damp and mould issues, and a continued focus on stock quality.”
Who spent the most?
The regulator’s data shows which providers invested the most in improving existing stock in the year to 31 March 2025 (see tables below).
Riverside, Notting Hill Genesis and Clarion spent the most on major repairs – defined as significant, planned, essential works – investing £47.2m, £46.4m and £33.3m respectively, while Southern (£98.6m) and Peabody (£91.4m) spent most on planned maintenance.
Meanwhile, Clarion (£184.7m) L&Q (£169.9m) and Sanctuary (£139.3m) spent the most on routine maintenance.
Total repairs spend
| Registered provider | Routine maintenance (£k) | Planned maintenance (£k) | Major repairs expenditure (£k) | Total £k) |
|---|---|---|---|---|
| Clarion Housing Group | 184,700 | 75,900 | 33,300 | 293,900 |
| Southern Housing | 102,500 | 98,600 | 31,200 | 232,300 |
| London & Quadrant Housing Trust | 169,942 | 55,361 | 0 | 225,303 |
| Peabody Trust | 108,697 | 91,419 | 0 | 200,116 |
| Sanctuary Housing Association | 139,300 | 55,300 | 0 | 194,600 |
| Notting Hill Genesis | 116,200 | 4,500 | 46,400 | 167,100 |
| The Riverside Group | 82,505 | 37,149 | 47,224 | 166,878 |
| Sovereign Network Group | 102,160 | 44,867 | 7,450 | 154,477 |
| Places for People Group | 108,000 | 17,800 | 15,600 | 141,400 |
| Bromford Flagship | 83,420 | 28,601 | 15,743 | 127,764 |
Click here for the full table showing the BIGGEST 200 spenders on repairs
Major repairs
| Registered provider | Spend (£k) |
|---|---|
| Riverside Group | 47,224 |
| Notting Hill Genesis | 46,400 |
| Clarion Housing Group | 33,300 |
| Southern Housing | 31,200 |
| LiveWest Homes | 29,859 |
| Aster Group | 28,992 |
| Abri Group | 23,143 |
| Vivid Housing | 19,591 |
| Thirteen Housing Group | 16,939 |
| Bromford Flagship | 15,743 |
Planned maintenance
| Registered provider | Spend (£k) |
|---|---|
| Southern Housing | 98,600 |
| Peabody Trust | 91,419 |
| Clarion Housing Group | 75,900 |
| L&Q | 55,361 |
| Sanctuary | 55,300 |
| Sovereign Network Group | 44,867 |
| The Guinness Partnership | 42,100 |
| The Riverside Group | 37,149 |
| Anchor Hanover Group | 35,332 |
| Home Group | 32,553 |
Source: Regulator of Social Housing’s Global Accounts 2024/25
RSH said forecasts from providers suggest the higher level of spend on existing stock will continue, with an average annual spend of £10.9bn on repairs and maintenance estimated over the next five years. However, RSH providers’ plans will need to be revised to take into account grant funding for cladding replacement, Awaab’s Law and the new Decent Homes and Minimum Energy Efficiency Standards.
RSH said that the increased spend, combined with higher rates of interest, has constrained financial capacity. The sector’s EBITDA-MRI interest cover fell for the second successive year, dropping from 91% to 87%. Interest cover of below 100% means that the cost of servicing debt in the year was greater than net earnings after deducting the costs of maintaining existing housing stock.
The sector’s spend on development fell from £15bn to £14bn in the year. Providers expect to deliver 274,000 new homes over the next five financial years, which is down from the 292,000 previously estimated.
RSH said not all financial indicators have deteriorated. Operating margins increased from 16.9% to 17.3%, while operating surplus on core social housing lettings rose 11% to £4.7bn.
Total turnover increased by 9% to £27.4bn, boosted by the 7.7% permitted annual increase on social housing rents.
Total interest costs increased by 8% to £4.8bn. The RSH said approximately two thirds was attributable to higher rates on debt drawn in the year, with the remainder driven by an increase in the volume of debt.
Will Perry, director of strategy at RSH, said: “As expected, record investment in repairs and maintenance continues to affect margins as important safety and quality works are carried out. It is essential that providers ensure these works are completed efficiently and effectively, to improve financial resilience and increase development capacity.
“It is encouraging that most providers also continue to invest significantly in new homes. Major government interventions such as the £39bn grant for the Social and Affordable Homes Programme for the next ten years and capital funding for building safety should sustain new development into the future.
“While it is important to mention there are some signs of improvement in margins, we will continue to closely monitor landlords’ financial viability to ensure tenants and homes are protected.”
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