How we are doing

Social housing assets

As at 1 April 2021 we maintained a total of 9,840 social housing properties.

Of this total:

  • 8,642 are general needs properties = 87.8%
  • 1,198 are sheltered housing properties = 12.2%

The total market value of these properties was £1.947billion and the average market value was £197,884.

The asset value of these properties is 38% of the market value, so the total asset value was £740million and the average asset value was £75,195.

From these total values:

  • £1.947billion represents the vacant possession value of dwellings within the Housing Revenue Account
  • £740million 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 56 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 2021, 106 properties – 1.1% of the total stock – were voids. This means 9,734 of our properties were tenanted.