Decision details

To agree the detailed HRA budget proposals, rent levels and service charges for 2025/26 and the HRA Capital Programme 2023-26.

Recommended to Full Council (Budget and policy framework):

(1) The HRA Revenue budget for 2025/26 and revised budget for 2024/25 as set out at Appendix 1 to the report.

(2) The five-year HRA Capital Programme as set out at Appendix 2 to the report.

(3) An increase of 2.7% to social and affordable rents (including shared ownership) with effect from 7th April 2025 in line with government policy

(4) When social rented supported accommodation properties are relet to new tenants, the applicable rent will be increased by 10% above target rent with effect from 7th April 2025 in line with government policy

(5) When affordable rented properties are relet to new tenants, the applicable rent is reset to the lower of 80% of market rent (inclusive of Service Charges) or Local Housing Allowance, with effect from 7th April 2025 in line with government policy

(6) That the revised service charges as set out in paragraphs 2.4 of the report and Appendix 3 to the report are implemented with effect from 7th April 2025.

(7) An increase of 10% to Garage rents with effect from 7^th April 2025

(8) To note that £5.982m of Major Works capital expenditure profiled over 4 years between 2024/25 to 2027/28, is being 50% match funded by grant, subject to Government grant bids. The Government scheme aims to improve EPC ratings in HRA properties.