Local authority property management: a review of the new Audit Commission report

Most organisations take their property for granted. Local authorities are no exception. Yet in England and Wales, local authorities hold over £100 billion worth of non‐housing property. The extraordinary fact is that there is no precise information on its extent or value. At the same time, property also accounts for considerable recurring costs. One way or another, the cost of holding and managing this property represents about a quarter of local authorities' total annual rate and grant expenditure. The Audit Commission's handbook on property management is, therefore, timely. Perhaps the only surprise is that the subject has resisted in‐depth analysis for so long, since the 1972 Bains report identified it as one of the three key resources to be managed in local government, along with finance and personnel.