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Social housing asset value
As part of the local government transparency code, we need to publish details of the value of social housing stock that's held in our Housing Revenue Account (HRA).
The following details have to be published using value bands at postal sector level:
- total number of homes
- aggregate value and mean value of the dwelling, for existing use value (social housing) and market value
- number of homes that are vacant and that are tenanted
The following details are published at a general level:
- gap between tenanted sale value of homes in the HRA and the market sale value
- an assurance that the details aren't intended to suggest that tenancies should end to realise the market value of properties
Social housing asset value details
You can view the details of 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.