How we are doing

Social housing assets

As at 1 April 2020 we maintained a total of 9,799 social housing properties.

Of this total:

  • 1,215 are sheltered housing properties = 12.4%
  • 8,584 are general needs properties = 87.6%

The total market value of these properties was £1.894billion and the average market value was £193,299.

The asset value of these properties is 38% of the market value, so the total asset value was £719million and the average asset value was £73,454.

From these total values:

  • £1.894billion represents the vacant possession value of dwellings within the Housing Revenue Account
  • £1.174billion reflects the economic cost 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 50 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 2020, 89 properties – 0.60% of the total stock – were voids. This means 99.40% of our properties were tenanted.