Councils must publish details of the value of social housing stock that is held in their Housing Revenue Account.
Details to be published using the specified value bands and postal sector:
- total number of homes
- the aggregate value and mean value of the dwellings for both existing use value (social housing) and market value
- percentage of homes that are vacant and that are tenanted.
Details to be published at a general level:
- showing the difference between tenanted sale value of homes within the Housing Revenue Account and the market sale value
- an assurance that the publication of this detail is not intended to suggest that tenancies should end to realise the market value of properties.
You can view our social housing asset value here.
The vacant possession value of dwellings within the Housing Revenue Account as at 1 April 2014 is £1.259 billion (1 April 2013 value: £1.293 billion). To arrive at the balance sheet value of dwellings, the vacant possession value is reduced. This is to reflect the fact that there are sitting tenants enjoying sub-market rents and tenants’ rights. This includes the right to buy. The adjustment factor (31%) measures the difference between market rents and sub-market rents. It shows the economic cost to central government of providing council housing at less than market rents.
The publication is not intended to suggest that tenancies should end to realise the market value of properties.