I work in the building industry and as all have felt the hit of the climate, however I can tell you that the government are releasing 1 billion pounds into the industry for social housing. This is a great opportunity for you guys to get yourselves known and get in with house builders. I would suggest maybe doing a house or two on the cheap to show them what you do and then you agree rates etc with them if they choose to use you. It's still a good area to get into and will be very busy in the next year or so. A lot of the housing associations were going towards the taper and jointing, however this is not as easy to repair if the walls get damaged by tenants and so are going back to wet plaster. If you can't wait this long, maybe do the other job you've been offered and plaster on the side so that when things pick up you still have the skills ready to go for it. Artex and extensions seem to be the flavour of the month at the moment!!
Stay positive - that's the main thing to do! Don't hang up the trowel just yet!...