M. Pryke et C. Whitehead, PRIVATE-SECTOR CRITERIA AND THE RADICAL CHANGE IN PROVISION OF SOCIALHOUSING IN ENGLAND, Environment and planning. C, Government & policy, 13(2), 1995, pp. 217-252
The 1988 Housing Act signalled substantial changes in the provision of
social housing in England. The act places housing associations at the
centre of social housing provision. Moreover, their role as the main
providers of social housing depends, in line with government intention
s, on the greater use of private finance, as the proportion of public
sector funds declines. The introduction of what amounts to a new regim
e for social housing provision in England has effectively changed the
agenda of provision from one informed by public sector thinking to one
established around private sector criteria. Housing associations have
thus had to readjust quickly to an environment in which they are now
exposed to a variety of interrelated risks. In order to manage such ri
sks, associations have had to reorganise internally and to reevaluate
their priorities. Against this background, this paper is aimed, first,
at reporting on how a selection of case-study associations active acr
oss the main regions of England have faced up to the challenges that t
he new environment presents, and, second, at presenting the views of a
selection of private sector financial institutions about their percep
tions of social housing as an investment medium, the types of risk the
y view as characteristic of this sector, and their response to the eff
orts made by associations to manage the risks of social housing provis
ion. The paper is concluded by setting out the likely shape that socia
l housing provision will take in the immediate future.