‘Affordable Housing’ refers to properties with restricted tenures intended to accommodate local people with lower or medium incomes which means their values are lower than market housing. There is a range of different affordable housing products, including Affordable Rent, Social Rent, Shared Ownership, Discount Sale and Starter Homes, among others. Different Local Planning Authorities favour different products.
Our experienced and knowledgeable team regularly undertake valuations of affordable housing throughout the South West including for secured lending and acquisition purposes.
Our team can advise on all aspects of affordable housing delivery including design, tenure type and mix, to maximise values and ensure compliance with local planning policy.
We are also able to provide Registered Providers (RP’s) with Red Book Valuations to facilitate the acquisition of land and s106 stock. We would typically be asked to advise on open market values, rents, 1999 sale values, land values and on the value of the stock (s106 units) being considered for acquisition.
We also engage with RP’s on behalf of developers to find suitable partners to deliver on-site affordable housing requirements. Our role is to maximise the value of the affordable housing offer for the developer whilst at the same time finding the right partner who has the ability to proceed.
In addition, we can provide Financial Viability Assessments to support planning applications and can carry out negotiations with Local Planning Authorities to agree s106 terms. For more information on this please click here.
“Vickery Holman can always be relied upon to produce accurate valuation reports quickly. We use Vickery Holman to ascertain property values, including open market sale and rent, as well as different forms of affordable tenure to inform our negotiations with developers in relation to S106 stock. This often involves follow up re-valuations throughout the build, which Vickery Holman are always able to service without delay. We can always rely on Vickery Holman to provide us with the professional advice that we require to support our business.”
“Stephen and the team at Vickery Holman provided a fantastic service when I was looking for a valuation on an affordable housing scheme; he was knowledgeable of both the location, and of affordable housing in general, and was very helpful when changes to the mix and layout were made. He took the time to understand the product we were aiming to provide and therefore gave me confidence in his appraisals. I would gladly recommend Vickery Holman to anyone looking to get a well-informed and quick turnaround on any valuation work”
Affordable Housing Advice
Vickery Holman has recently provided advice to a private landowner in relation to a proposed planning application to develop an edge of settlement site just outside of Bude in North Cornwall.
The application is for a Rural Exceptions scheme under Policy 9 of The Cornwall Local Plan.
Vickery Holman advised on tenure split, scheme mix and layout to inform the design stage of the process.
We have now been instructed to prepare a Financial Viably Assessment to support the planning application.
Vickery Holman has recently provided valuation advice to a regional Housing Association in relation to a potential s106 acquisition in Taunton.
The portfolio included 20 dwellings, comprising social rented and shared ownership tenure.
Vickery advised on open market sale values, rents, January 1999 sale values, the portfolio ‘package’ price and land value.
The acquisition is now progressing.
The Team for Affordable Housing Consultancy
Case studies for Affordable Housing Consultancy
When Does Section 106 Apply? Development usually comes at a cost to the wider community within which it sits. This can be at a greater demand and therefore cost for public services or damaging impact on the greater community good. Planning approvals always come with conditions controlling the development itself and where appropriate legal (s106) […]
Are you a landowner who thinks that your land might have development potential? We can help… As a starter we can advise you on the potential of your land, its value and provide an indication as to the likelihood of successfully obtaining a planning consent for development, be it residential or commercial. Should it be […]
With build costs expected to rise on average by 3.2% a year over the next 3 years (BCIS) and house price growth reportedly beginning to level out as supply increases and concerns over the impact of Brexit continues to cause hesitancy, we are likely to see a further squeeze on the viability of development projects. […]
What Is The Purpose Of Conducting A Feasibility Study? If you are a land or property owner, whether that be residential, commercial or agricultural and think your land or property has development potential then a feasibility study can be undertaken at the earliest stage of the project to outline the land/properties development potential. What Is […]
Valuation advice provided on exclusive single new build project with build cost of £1.1 million and estimated GDV of £1.8 million. Acting on behalf of Aspire Commercial Finance in connection with a financing arrangement for a four storey, 4 bedroom, 523 sq m luxury dwelling with swimming pool, gym and integral double garage. The development […]