Vantage Global Accounts Plus analysis

State of the Sector Analysis FY24/25

Presenting the definitive headline financial results from the Vantage Global Accounts Plus analysis.

What the analysis covers

The headline results are drawn from the Vantage Global Accounts Plus analysis of registered social housing providers.

126

Registered social housing providers

2,736,725

Social housing units owned and managed

90%

Of sector turnover

In brief: our headlines analysis

Nine figures that summarise the year, each with its change against FY23/24.

£24.50bn

Total turnover

8.1% on last year
£5.95bn

Employment costs

9% on last year
£94.95bn

Average debt

8.6% on last year
£5.34bn

Operating surplus

10.2% on last year
49,000

Units built or acquired

2% on last year
£5,856

Headline social housing cost per unit

9.8% on last year
£19.08bn

Social housing turnover

9.1% on last year
£1.20bn

Surplus on disposal of properties

25% on last year
£3.80bn

Interest payable

9% on last year

"The Vantage state of the sector data gives me exactly what I need to help understand the context in which I'm operating. The information allows me to put into perspective what's happening at my own association, how we are responding to the challenges and what else we need to be thinking about doing. The breadth of data, the objectivity and quality make it an invaluable resource and the report is the one I use with my own Board when we are looking at strategy."

Gavin Cansfield, Chief Executive Officer, MOAT
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Analysis of operating margin

The average overall operating margin for FY24/25, and the three lines that shaped it.

19%

Average overall operating margin in FY24/25

£3.55bn

Management costs

£1.20bn

Surplus on disposal of properties

25% on last year
£9.02bn

Total repairs and maintenance

Total repairs and maintenance cost

The four components of repairs and maintenance spend, FY24/25 against FY23/24.

£9.02bn

Total repairs and maintenance in FY24/25, across the four components.

Routine maintenance
£3.40bn

from £3.07bn in FY23/24

£0.33bn
Planned maintenance
£1.29bn

from £1.21bn in FY23/24

£0.08bn
Major repairs expenditure
£0.80bn

from £0.70bn in FY23/24

£0.10bn
Total sum of capitalised components
£3.53bn

from £2.92bn in FY23/24

£0.61bn
FY23/24 FY24/25

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"The state of the sector report has allowed us to quickly understand where other RPs in our industry are heading and identify emerging trends on a regional and national level. Using sector specific data points it allows us to make more effective decisions from a trusted source and assess progress against our corporate strategy."

Paul Wright, Director of Finance and Procurement, Gentoo Group
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