Regulatory and organisational responses to restructured housing association finance in England and Wales

Risk was shifted from government to housing associations during the late 19 80s producing a very different operating environment for associations based around competition. Critical in this has been an increased emphasis on fin ancial management. The paper explores the impacts of these changes through an examination of the Welsh regulator's (Housing for Wales) responses and t hrough changing management and organisation within associations. The policy responses by Housing for Wales indicate an increasing emphasis on social p olicy regulatory objectives, though within a very interventionist framework , which works to limit the ability of associations financially to plan thei r future. Innovations in housing associations are also examined to highligh t organisational responses to the new environment. These innovations have f ocused on the, often uncritical, importation of private-sector management p ractices including telephone-based housing management services, demonstrati on projects and moves towards core-periphery organisational models. Current evidence in these underresearched areas indicates a changing culture withi n the sector towards a more business-like ethos emanating from the market-l ed system in which associations now operate, whilst indicating that there i s substantial outstanding knowledge about the changing nature of housing as sociations.