£188m valuation of Shropshire Council homes ‘not accurate’
A £188 million valuation of Shropshire’s council houses “does not reflect” the price the authority would receive for their sale, an official has saidaccording to the organisation.
The future of the council’s housing stock remains uncertain with the authority yet to publish the findings of a report by property experts Savilles public.
Shropshire Council owns about 4,000 homes which are under the management of Shropshire Towns and Rural Housing (Star Housing).
The homes are in Bridgnorth and Oswestry and the Savilles report was commissioned to look at options for the future management of the houses. It is expected to have considered whether a sale would be beneficial.
The most recent valuation of the homes from March put the price at £470.5 million, although that figure does not reflect the true value as it is the assessment based on vacant homes at open market value.
