Affordable and social housing finance innovation - synthesis, reflection and implications for Scotland: international evidence

Footnotes

1 There is arguably no foolproof way to undertake grey literature searches on a par with peer reviewed digital searches based on exclusions and quality assessment – it remains pragmatic, experience-led and driven by specific search engines and websites. Different universities provide guidance for students undertaking such searches but they are all inevitably constrained and less than optimal.

2 Though there is less capacity in the provider sector to deliver new affordable supply, e.g. cut backs in development teams, etc. which will reduce the ability to fully benefit from the restoration of funding in the coming financial year – capacity has to be rebuild alongside greater confidence to develop.

3 See: https://fairershare.org.uk/manifesto-reports/ referring to the English case

4 Recently, encouraging innovations within an early intervention investment framework, in Victoria, Australia, demonstrate a capacity to set long term budgets based on credible preventative outcomes within cost benefit analysis modelling to reward prevention through booking future spending in the form of savings projected from avoided costs – see: https://www.dtf.vic.gov.au/early-intervention-investment-framework

5 Similar points have been made by others: e.g. the committee report by the DLUHC Parliamentary committee (DLUHC Committee, 2024).

6 Inside Housing March 19 2019 Scottish housing regulator opposition to registering for profit housing associations - https://www.insidehousing.co.uk/news/regulator-bars-for-profit-housing-associations-from-entering-scottish-sector-60683

7 CaCHE is currently undertaking a Scottish national affordable need study for the next 5 years for Shelter, SFHA and the Chartered Institute for Housing.

8 Though the NHT model critically depends on how exit routes are formulated i.e. it can be expensive to the public purse if retained rather than disposed of after the qualifying period (but there would be no necessary reason for a similar policy to be so designed to allow that option or eventuality).

9 We note the extensive use of long term leasing in Scotland by councils to support temporary accommodation

10 And also the argument developed by Denham et al (2019) and by Lawson et al (2024) that social housing should be seen and framed as (and provided my mission-oriented) infrastructure.

11 The report is probably the single most useful international reference for the HITF’s work identified in this literature search

12 Not all elements necessarily relevant to Scotland

13 See ZEST working group final 2021 report: https://www.gov.scot/publications/achieving-net-zero-social-housing-zero-emissions-social-housing-taskforce-report/pages/1/

14 See the recent Housing Agency report: https://www.housingagency.ie/sites/default/files/The%20Impact%20of%20Cost%20Rental%20Housing.pdf

15 This backs up international research evidence a PhD student of mine did in the last decade on the considerable challenges for developing affordable housing REITs in China: Jie Huang (2018) ‘Chinese housing affordability and REITs’ (University of Glasgow)