Key Findings and Implications for the Future from the Stock Condition Survey undertaken by Savills - PowerPoint PPT Presentation

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Key Findings and Implications for the Future from the Stock Condition Survey undertaken by Savills

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  1. Key Findings and Implications for the Future from the Stock Condition Survey undertaken by Savills Presented by Winston Williams January 2008

  2. Presentation will Cover: • Purpose of the Survey • Methodology • Savills key findings and comments • Summary of Costs • Implications for the future • Questions

  3. Purpose of Survey • Assess current condition of the stock • Assess future repairs and maintenance liability • Assess improvements required to the stock • Assess properties against the Decent Homes Standard • Assess requirements beyond Decent Homes

  4. Methodology • Analysis of database • 10,527 properties • Representative 10% Internal and External sample based on type, age and location

  5. Methodology • Benchmarks and standards • Schedule of rates • Schedule of life cycles • Historic expenditure to the properties

  6. Savills Findings • The stock has had substantial investment made in Decent Homes work • 84% of the stock meets the Decent Homes Standard • Major investment required to non decent homes items

  7. Savills Findings • Roof coverings serviceable but many need replacement in the medium term • 60% of properties have benefited from the installation of double glazed windows • 75% of the properties have had modern secure front and back doors fitted • Very little investment made in the general environment

  8. Savills Findings • Most properties have some form of central heating, although a significant programme is required to replace the older systems over the next 5 years • The majority of the Kitchens and Bathrooms have been modernised and wiring has been upgraded • Internal modernisation programme to be completed

  9. Savills Findings: Non-Traditional Properties / High Rise Flats • 902 flats in high rise blocks • Some of the blocks need new cladding, lifts and boilers • 1,308 Wimpey No Fines properties which need over cladding

  10. Savills Comments • The age profile of the stock is such that it is inevitable that greater expenditure will be required to the stock in the future. • The changing/increasing expectation of tenants • The next level of investment beyond Decent Homes, creation of sustainable housing • Dovetailing stock survey findings into overall asset management strategy/implementation

  11. Savills Comments • Savills undertake the majority of surveys across the country, including a significant number of ALMO stock. We had pretty unanimous feedback from the surveying team that the quality of work undertaken to our stock compares very favourably. In fact, it was one of the best ALMO stocks they have inspected and the properties which have been improved (which is the majority) have been upgraded to a pretty holistic decent homes standard. They were not been party to the delivery of the programme, the costs or the timescales and hence cannot comment on that. However, it can be said that the final result is a high quality and it is a shame there is not more of the same throughout the country.

  12. Summary of all Costs

  13. Implications for the Future • Report identified some high investment needs, including Health & Safety works • Survey based on prices at June 2007 • Approximately 300 properties will fall out of decency each year. • Low SAP rated properties require up-grading to meet decent homes standard • Responding to Savills findings, in particular the H&S items, within current budgets • Although environmental works noted – report only addresses stock condition.

  14. Implications for the Future Current H&S priorities for 2008/09 • Electrical inspections / repairs • Asbestos removal (as per Savills findings) • Low SAP rated properties • Heating failures • Structural works • Legionella management • Fire Risk Assessment • Boiler replacement

  15. Implications for the Future Other Non-H&S Pressures • Impact on R&M budget for reduced scope of works to approx.1,500 properties.

  16. Implications for the Future • Together with SBC, effectively manage the available budget to ensure the health, safety and well-being of our customers is maintained, having regard to the most recent stock condition survey. • Continue to work with SBC to secure the appropriate funding to ensure the stock is maintained and improved as necessary.

  17. Questions