Housing associations in England invested a record amount in existing stock in 2023/24 but have weakened the sector’s financial position by doing so, according to analysis by the Regulator of Social Housing (RSH).

The RSH, in its annual global accounts report, said providers spent £8.8bn on repairs and maintenance in the year to 31 March 2024. This was 13% more compared to the previous year and 55% above the £5.7bn reported in 2020 pre-pandemic.

The figures for spend on responsive maintenance and capitalised major works have now both increased for three successive years (see chart below). Projected spend on repairs and maintenance has increased by 11% on last year’s plans and is now equivalent to £10bn per annum over the next five years.