Hammersmith and Fulham Council's Housing Revenue Account (HRA) has shown significant improvement and financial strength, moving away from being a primary concern for the council. This positive development was highlighted during a recent Cabinet meeting on Monday, April 13, 2026.
Councillor Rowan Ree, Cabinet Member for Finance and Reform, stated that great strides have been made in eliminating the HRA's structural deficit. A 10-year business plan is in place with the aim of not only breaking even but also building reserves for the HRA.
Councillor Stephen Cowan, Leader of the Council, provided context for past pressures on the HRA. He explained that significant expenditure was necessary to address damp and mould issues found in council housing stock following a contract signed in 2013. The council has since undertaken a substantial planned maintenance programme to refurbish housing stock, with the goal of providing the best council housing in the country.
If you go into a house and see, as I know you have done, and as all of us have done, and you see the conditions, you feel an overwhelming sense of anger that it was in that condition in the first place. And secondly, a determination to make it better,
Councillor Cowan said, referring to the efforts to rectify the housing stock.
He added that the council now has a planned maintenance budget suited to pre-empting problems with housing, such as fading windows and tired kitchens, leading to a substantial planned refurbishment programme. This approach aims to reduce the reliance on expensive reactive repairs and improve the overall quality of housing.
The Revenue Budget Review for 2025-26, detailed in the Revenue Budget Review 2025-26 - Month 10, also indicated a reduction in financial pressure on both the general fund and the HRA. This is attributed to the council's ruthless financially efficient approach
to budget management.
This approach involves using the latest technology to cut waste and finding new ways to achieve more for less. During its term, the council has saved a record £156 million through this method, though a comprehensive list of its key elements was not detailed in the meeting's documentation.
