Social Housing Asset Value
Housing Stock Information Local Authorities are required to publish details of the value of social housing stock that is held in their Housing Revenue Account. The data must be published by postal sector and classified within pre-determined valuation bands and include valuations for the dwellings using both Exiting Use Value for Social Housing (EUV-SH) and Market Value (MV). The data is required to be published annually as at 1st April and must be based on the Authority's most up to date valuations.
The Code requires that valuation data must be listed at postal sector level (e.g. PE11 1**) where the average number of households is 2,500. This should be large enough to prevent identification of individual dwellings. However, a large number of postal sectors that fall within the South Holland District Council social housing stock hold less than 2,500. In this instance The Code allows the postcode level to be set higher, that is at the district level (e.g. PE11 ***).
Local authorities are also required to make further adjustments to the data prior to publishing in order to mitigate the possibility of identifying individual properties. For any given postal sector (district) where the number of occupied social housing properties in any valuation bands is less than a threshold of '10', authorities should merge that cell with the next lowest valuation band and so on until the result is a band with 10 or more households.
Existing Use Value and Market Value
The tenanted value of dwellings within the Housing Revenue Account is valued at Existing Use Value - Social Housing. This assumes the estimated amount for which a property should exchange on the date of valuation subject to the property being let in pursuant to delivery of a service for existing use i.e. tenanted socially rented dwellings rather than vacant possession.
The Market Value or Existing Use Value indicates the best price at which a sale of an interest in the property would have been completed unconditionally for cash consideration with vacant possession.
The vacant possession value is for comparison purposes only and is not intended to suggest that tenancies should end to realise the market value of properties.