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Navigating uncertainty
Essential leadership traits for steering a course through choppy waters
STRATEGY
Priya Nair
Chief Executive, The Housing Finance Corporation
Priya Nair
Chief Executive, The Housing Finance Corporation
Issue 79 | September 2025
Leadership has always required striking a balance between present demands and preparing for the future. During the 2008 financial crisis, I learned first-hand the value of remaining vigilant to external change and responding with suitable adaptations. Persistent attention to tracking shifts in government support, credit availability, and regulations that shaped global markets was vital. This awareness meant adapting decisions to threats such as rising inflation, higher living costs, and unemployment by assessing their impact on our clients and responding quickly.
That alertness continued post-crisis. I monitored political, economic, and social shifts – tracking reforms, inflation, and shifts in government funding priorities – to keep my team’s strategies responsive to risks such as Brexit, the pandemic, and the recent cost-of-living crisis. I followed sector trends, reviewed policy updates, and engaged stakeholders to stay aligned.
Today, especially within affordable housing, where government policy, societal needs, and market dynamics intersect – this balancing act is more complex and consequential than ever. Experience alone no longer suffices. The leaders who excel are those who maintain vigilance on external developments, cultivate foresight to anticipate what’s next, and nurture the agility to adapt proactively.
A sector under the spotlight
Recent UK government change and renewed emphasis on housing delivery present both opportunities and new risks. For organisations such as The Housing Finance Corporation (THFC), policy shifts redefine financing priorities and regulatory frameworks, directly influencing what’s possible for communities and the partners who serve them.
External awareness is essential
The first, non-negotiable task of effective leadership today is sustained external awareness. Whether it’s policy changes, shifting public sentiment, regulatory evolution, or broader social movements, these forces have real, immediate effects on affordable housing operations. Key recent external factors include:
- Government commitment: The current government’s £39 billion commitment to the 10-year Social and Affordable Homes Programme brings long-term stability for councils, developers, and housing associations. With around 300,000 new homes expected from this funding, the sector faces both a challenge and a mandate to deliver.
- Greater certainty: Social housing rents are set to rise by CPI+1% annually from April, with the rent settlement period now extended from five to 10 years – critical for business planning and for investor confidence.
At THFC, we engage continuously with policymakers, sector partners, and financial stakeholders to understand the evolving context and to anticipate the impact on our services. Staying ahead of change is vital; leaders cannot afford to be reactive when the stakes are so high.
“Foresight in leadership does not mean trying to predict every outcome with precision.”
Value of foresight
Experience is a rich resource, but its true value lies in fostering foresight. The capacity to notice subtle signals, interpret emerging patterns and see connections before they become clear to others.
Foresight in leadership does not mean trying to predict every outcome with precision. Rather, it is about leveraging accumulated sector insight and historical understanding to identify potential scenarios and prepare accordingly. At THFC, our experience provides a valuable lens for interpreting the implications of government strategy, macroeconomic trends and sector behaviour.
For instance, a renewed policy focus on housing delivery often means changes in funding flows or alterations in regulatory requirements. As leaders, our responsibility is to translate these early indicators into strategic action ensuring our organisation is positioned to support housing associations and local authorities as their needs evolve.
Agility is paramount
No matter how refined our forecasts may be, the future is always, to some extent, unknowable. That’s why agility across both mindset and operations is paramount.
- Flexibility and responsiveness: Agility means being prepared to pivot when new opportunities or risks surface. It requires challenger thinking, openness to innovation, and readiness to evolve plans that no longer fit reality.
- Cultural agility: At THFC, agility is embedded not only in our product offerings such as sustainability-linked finance or alignment with government priorities but also in our approach to team culture. We prioritise collaboration, learning from diverse perspectives, and rapid iteration to refine our strategies.
Essential leadership traits
To recap, recent years have underscored the qualities that define resilient and effective leadership in affordable housing:
- External vigilance: Stay continuously attuned to political, economic, and social changes.
- Experience-driven foresight: Use sector expertise to anticipate new challenges and opportunities ahead of the curve.
- Agile mindset: Adapt strategic and operational plans in response to real-world developments.
As the affordable housing sector evolves within a fresh government mandate and shifting market landscape, these capabilities will not just set leaders apart, they are the foundation of long-term impact and resilience. Change is inevitable. But with awareness, foresight and agility, leaders can ensure they remain not only relevant but truly indispensable.
“Change is inevitable. But with awareness, foresight and agility, leaders can ensure they remain not only relevant but truly indispensable.”
