Housemark: Void properties cost social housing sector £1.6bn
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The social housing sector is facing significant financial and operational challenges caused by void properties, according to Housemark’s latest Voids Club research.
The study reveals that around 300,000 social housing properties became void in 2023/24, costing the sector up to £1.6 billion in repairs, lettings, and lost rent. This staggering figure underscores the urgent need for action.
Housemark’s Voids Club is a specialist forum for housing providers to share best practice, discuss challenges, and explore solutions to improve voids management. Members meet regularly to collaborate and gain insights from data and expert guidance.
This research, based on performance figures and survey responses from 45 housing providers that are members of Housemark’s Voids Club, offers an in-depth analysis of the current voids landscape and highlights opportunities for improvement.
The research shows that the sector spent over £1.1bn on void repairs alone, while an additional £220 million went towards placing new tenants. However, with average re-let times for all voids standing at 74 days, many landlords are still struggling to minimise costly delays, especially where major repairs are needed. For standard voids without major repairs, the average is close to 50 days. This figure still leaves room for improvement across the board – five years ago the equivalent result was below 30 days.
The study also sheds light on tenancy termination processes, which often exacerbate the issue. Overstretched teams and resource constraints in tenancy management have increased the number of properties left in poor condition at the end of a tenancy, requiring extensive and expensive repairs. Robust end-of-tenancy processes and proactive management could significantly reduce these costs and ensure quicker turnaround times.
Housemark’s data reveals that some landlords are implementing innovative strategies to address these challenges. From prioritising tenant engagement during the notice period to leveraging data-driven approaches, these organisations are setting benchmarks for the sector.
While the findings state that there is no single solution, the analysis emphasises the importance of people in the voids process – building strong relationships, collaborating effectively, with leadership commitment, and a willingness to adapt.
Jonathan Cox, chief data officer at Housemark, said: “Voids management is a complex but crucial area for social housing providers, impacting not just the bottom line but also the ability to provide much-needed homes for tenants. Our research highlights the scale of the financial burden, but more importantly, it sheds light on the practical steps landlords can take to improve efficiency and re-let properties faster.
“By fostering collaboration and innovation through initiatives such as Voids Club, we’re helping housing providers to refine their processes, implement smarter strategies, and, ultimately, deliver better outcomes for tenants and communities. Leadership commitment and shared learning across the sector are essential to achieving meaningful progress.”
Other key findings from the Voids Club research include:
- Specialist void management structures vary significantly, with 10% of landlords using generic housing officers and 11% relying on hybrid teams cutting across voids and lettings.
- Nearly half of landlords visit outgoing tenants after notice is given but before they move out, a practice that helps reduce end-of-tenancy issues.
- One-third of landlords tailor pre-tenancy checks to individual households, with some using RAG rating systems to assess needs and provide appropriate support.
- Many landlords face challenges in defining major and standard voids, with approaches ranging from using schedules of rates to following regulatory guidance.
- Half of landlords are carrying void repairs into new tenancies, but the other half face challenges in completing works before letting.
For more information, or to become a member of Housemark’s Voids Club and gain exclusive access to the full research report, visit the website.
Housemark’s research manager John Wickenden is hosting a webinar on voids and lettings performance. The session will explore the latest data, highlight best practice approaches, and provide practical steps to improve voids management.
To register and find out more, visit the website.