Social Housing Asset Value
We are required to publish details on the value of social housing assets within our Housing Revenue Account.
Stock-holding councils are under a statutory duty to account separately for their housing stock in their Housing Revenue Account using the "Existing Use Value for Social Housing" (EUV) as defined by Royal Institution of Chartered Surveyors (RICS). This valuation approach is used as it reflects that the properties are social housing with tenants and that this reduces their value, compared to a market value which would be based on vacant sale.
Publication of this information is not intended to suggest that tenancies should end to realise the market value of properties.
The following information is available within specified value bands and postal sectors as at 1 April 2014:
- Total number of homes is 2843
- The aggregate existing use value (social housing) is £242,063,347.50 and the average existing use value (social housing) within the 14 valuation bands is £42.667-177,645
- The aggregate market value is £620,675,250.00 and the average market value within the 14 valuation bands is £109,403-455,000
- The percentage of homes that are vacant is 1.24% and those that are tenanted is 98.76%