As at 1 April 2018, we maintained a total of 9,897 social housing properties.
Of this total:
- 1,216 are sheltered housing properties = 12.3%
- 8,681 are general needs properties = 87.7%
The total market value of these properties was £1.892billion and the average market value was £191,210.
The asset value of these properties is 39% of the market value, so the total asset value was £719million and the average asset value was £72,660.
Of these total values:
- £1.892billion represents the vacant possession value of dwellings within the Housing Revenue Account
- £719million reflects the economic value of providing council housing at less than open market rents
It is not our policy to raise revenue from the sale of council housing. Any net income that can be released from the sale of housing, after central government contributions, is invested back into social housing.
Currently we let around 51 vacant properties, called 'voids', to new tenancies each month. This level of turnaround means we will always be carrying a number of voids.
At 1 April 2018, 86 properties – 0.87% of the total stock – were voids. This means 99.13% of our properties were tenanted.