PI's: New Supply (Non-Social Housing)
Regulator for Social Housing: New Supply (Non-Social Housing)
RSH 205: New supply delivered (Non-social housing units)
Rationale, Definition & Worked Example
Below you can find information regarding the rationale, definition and formula for this performance indicator. This includes a worked example to demonstrate how this indicator should be calculated.
Rationale
The regulators supply metric sets out the number of new non-social housing units that have been acquired or developed in the year as a proportion of total asset base (units owned).
Definition
Housing supply delivered as a percentage of stock owned, during the period April – March
Formula
[A / B ] * 100
A = [Total non-social units developed or newly built units acquired in-year (owned)
(Total non-social rental housing units owned, non-social leasehold units owned, New outright sale units developed or acquired)]
B = [Total social housing units owned (period end)
+ Total non-social rental housing units owned (period end)
+ Social leasehold units owned (period end)
+ Non-social leasehold units owned (period end)]
MHCLG definition of completion: In principle, a dwelling is regarded as completed when it becomes ready for occupation or when a completion certificate is issued whether it is in fact occupied or not. In practice, there are instances where the timing could be delayed and some completions are missed for example as no completion certificate was requested by the owner.
Newly-built acquired properties includes new dwellings built where construction is carried out by another entity (such as newly-built S106 acquisitions).
A unit completed by a joint venture with a private sector partner should be counted as a whole unit. A unit completed by a joint venture with another registered provider should be counted as a whole unit only by the provider that will be managing the unit (to avoid double counting)
A = [Total non-social units developed or newly built units acquired in-year (owned)
(Total non-social rental housing units owned, non-social leasehold units owned, New outright sale units developed or acquired)]
B = [Total social housing units owned (period end)
+ Total non-social rental housing units owned (period end)
+ Social leasehold units owned (period end)
+ Non-social leasehold units owned (period end)]
MHCLG definition of completion: In principle, a dwelling is regarded as completed when it becomes ready for occupation or when a completion certificate is issued whether it is in fact occupied or not. In practice, there are instances where the timing could be delayed and some completions are missed for example as no completion certificate was requested by the owner.
Newly-built acquired properties includes new dwellings built where construction is carried out by another entity (such as newly-built S106 acquisitions).
A unit completed by a joint venture with a private sector partner should be counted as a whole unit. A unit completed by a joint venture with another registered provider should be counted as a whole unit only by the provider that will be managing the unit (to avoid double counting)
Worked Example
New non-social housing units delivered in the year = 25
Total units owned at year end (social + non-social) = 1,250
Calculation:
25 ÷ 1,250 × 100 = 2%