Councils have to publish details of the value of social housing stock that's held in their Housing Revenue Account (HRA).
Details are to be published using the value bands and postal sector:
- total number of homes
- the aggregate value and mean value of the dwellings. This is for both existing use value (social housing) and market value.
- number of homes that are vacant and that are tenanted.
Details to be published at a general level:
- showing the gap between tenanted sale value of homes within the HRA and the market sale value.
- an assurance that these detail aren't intended to suggest that tenancies should end to realise the market value of properties.
Take a look at our social housing asset value.
The vacant possession value of dwellings within the HRA as at 31 March 2023 was £2.073 billion. (The 31 March 2022 value was £1.746 billion). To arrive at the balance sheet value of dwellings, the vacant possession value is reduced to reflect:
- the fact there are sitting tenants enjoying sub-market rents.
- tenants’ rights, including the Right to Buy.
The adjustment factor (41% of the vacant possession value) 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.