The Scottish housing association sector is financially healthy, with turnover approaching £1 bn, supported by £2.9bn of committed private finance, according to a new publication issued today by the Scottish Housing Regulator.

The 2006/07 Financial Digest reveals that the housing association sector in Scotland saw turnover rise by around 9% to £931m.

This represents faster growth by the sector than in the previous year.

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Turnover is up 8.7%, housing properties up 9.7% to £7.6 billion, and the sector recorded a net surplus of £68 million.

The Financial Digest provides a financial overview of the Scottish housing association sector based on annual accounts, private finance returns and five year projections.

The Scottish Housing Regulator chief executive, Karen Watt, said: "The housing association sector overall is in good financial health and well placed to develop more new houses. But individual organisations need to keep a close eye on rising management costs, and make sure their forward business plans are underpinned by realistic assumptions and sound treasury management."

(GK/JM)