Social housing assets
Information available using the specified value bands and postal sector:
- total number of homes
- the aggregate value and mean value of the dwellings for both existing use value (social housing) and market value
- percentage of homes that are vacant and that are tenanted
The difference between the tenanted sale value of homes within the Housing Revenue Account and their market sale value
The tenanted sale value is shown as Existing Use Value as Social Housing (EUV-SH). EUV-SH reflects a valuation for a property:
- if it were sold with sitting tenants enjoying occupation at less than open market rentals and Retail Price Index linked increases;
- where the tenants have additional rights including the Right to Buy
- where the landlord has additional liabilities including insurance, repair, maintenance and statutory obligations.
Therefore, it is necessary to adjust the Market Value to reach EUV-SH. The Adjustment Factor measures the difference between private open market rented and socially rented property at a regional level. It is this discount which, when applied to the cumulative total of all beacon values, gives rise to the EUV-SH.
This information is not intended to suggest that tenancies should end to realise market value of properties.