Off-balance-sheet delivery "is preferable to stock disposals as a funding mechanism"

This approach would enable RPs to keep building at scale now without over-leveraging or shrinking their core asset base, enabling the social housing sector to move from being under ongoing strain to becoming an endowment generating surplus cash flow.  Writing in Social Housing, John Tattersall of Centrus argued that the real constraint to growth is development viability, not capital scarcity, while funding development through disposals can weaken long-term capacity.  Properly structured off-balance-sheet vehicles, with robust appraisal and purchase / reversion rights, allow the sector to grow with the assets remaining under charitable ownership for the long term.  Potential deals should be assessed on net present value and long-term outcomes, supporting the sector's journey to becoming financially mature and asset‑rich,  supporting lower rents and reducing the welfare bill.