Overview
This strategy sets out our approach towards maintaining our stock portfolio over the next five years. It is reviewed within a five year period to support the 30 year capital business plan.
The strategy is informed by the funding available through the Housing Revenue Account (HRA). This is for cyclical improvement and replacement works and repairs. It is reviewed on an annual basis.
Since our last asset management strategy was produced, the partnership with Kier has ended, with Property Services returning to the local authority from April 2019.
Effective asset management is greater than carrying out good timely repairs and property improvements. The whole asset base must be reviewed to achieve the balance between quality and need. This ensures that our assets are utilised in the most effective way to meet corporate objectives and current and future customer expectations.
In 2016 Government introduced a four year freeze on social rent increases. The Consumer Price Index (CPI) plus 1% resumed in 2020. The current cost of living crisis has resulted in this being reviewed again, with a social housing consultation exercise on preferred rent increase options running September 2022. The outcome of the consultation is not known at the time of this strategy being produced.
The Covid -19 pandemic has also brought its challenges, with the full impact of rising material costs and a reduced labour market yet to be known.
Our key objectives include:
- The provision of homes that are decent, safe, energy efficient and affordable
- Meeting statutory and regulatory requirements
- Delivering value for money, improving the quality and condition of homes
- Continuing to meet the Decent Homes Standard.
- Understanding our stock portfolio and suitability to meet our short, medium, and long term strategic objectives and local housing need
- Sustainability of homes, neighbourhoods, and strong communities
- Customer involvement in setting the Housing Investment Programme