Publication - Corporate report

Report on the work of the 2021 Affordable Housing Investment Benchmarks Working Group

Published: 10 Sep 2021

Report on the work of the 2021 Affordable Housing Investment Benchmarks Working Group.

Report on the work of the 2021 Affordable Housing Investment Benchmarks Working Group
Annex D

Workings – baseline benchmark assumptions

RSL social rent

West Highland, Island authorities, and remote/ rural Argyll

Other rural

City and urban

Current

82,000

72,000

70,000

Adjust geographies

5,000

3,000

0

Sub-total

87,000

75,000

70,000

Inflation at 3%

2,610

2,250

2,100

Uplift to reflect additional specifications and costs stemming from the 2015 building regulations

 5,900

5,900

5,900

Total

95,510

83,150

78,000

Proposed benchmark*

95,500

83,000

78,000

 

 

 

   

Council social rent

West Highland, Island authorities, and remote/ rural Argyll

Other rural

City and urban

Current

57,000

57,000

57,000

Reduce differential to current RSL social rent

12,500

7,500

6,500

Mirror geographies’ differential above

5,000

3,000

0

Sub-total

74,500

67,500

63,500

Inflation at 3%

2,235

2,025

1,905

Uplift to reflect additional specifications and costs stemming from the 2015 building regulations

5,900

5,900

5,900

Total

82,635

75,425

71,305

Proposed benchmark*

83,000

75,500

71,500

 

 

 

 

   

RSL mid-market rent

West Highland, Island authorities, and remote/ rural Argyll

Other rural

City and urban

Current

44,000

44,000

44,000

Geographic uplift

5,000

3,000

0

Uplift to reflect evidence

2,000

2,000

2,000

Sub-total

51,000

49,000

46,000

Inflation at 3%

1,530

1,470

1,380

Uplift to reflect additional specifications and costs stemming from the 2015 building regulations

5,900

5,900

5,900

Total

58,430

56,370

53,280

Proposed benchmark*

58,500

56,500

53,500

 

Council mid-market rent

West Highland, Island authorities, and remote/ rural Argyll

Other rural

City and urban

% of new RSL social rent benchmarks

c. 90%

91%

c. 91%

Total

52,587

51,297

48,485

Proposed benchmark*

53,000

51,500

49,000

* Figures rounded