Hopkins to Make Councils Reveal Value of Their Housing Stock

Local authorities are to be forced to reveal the value of their council housing stock under plans announced today by Housing Minister Kris Hopkins. Members of the public will be able to see the value of the housing assets councils hold for the first time in a bid to encourage greater transparency, as part of plans put out for consultation by the CLG. The new rules would require councils to publish the most recent and subsequent valuations of their social housing stock every year. The consultation also calls for evidence on what local authorities are already doing to use their public assets to deliver more homes.  Read more on 24dash.

The Housing Revenue Account (Accounting Practices) Directions 2011

Following the consultation on the draft Housing Revenue Account (Accounting Practices) Directions 2011, held from 1 April to 12 May 2011, Ministers have decided to confirm the provisions contained in that document. The new directions change or update various items of published guidance concerning the Housing Revenue Account, particularly the stock valuation guidance previously published in the Housing Revenue Account (Accounting Practices) Direction 2007, and brings practices in line with international financial reporting standards. Download a copy of the finalised Directions from the CLG website.