Official Statistics

Statistical commentary

Updated 15 September 2022

This release contains statistics relating to stock of non-domestic properties including business floorspace for England and Wales at 31 March 2022. The statistics provide information on the number and value of the stock of rateable properties (known as “hereditaments”), broken down by sector, geographic location, property type and rateable value band. Also provided is the floorspace and rateable value per metre squared, broken down by sector and geographic location.

Responsible Statistician

Anna McReady

Statistical enquiries

statistics@voa.gov.uk

Date of next publication

Spring 2023

1. Headline figures

1.1 Properties in England and Wales on the Local Rating List at 31 March 2022:

The stock of properties at 31 March 2022 was

2.14 million

Up from 2.13 million at 31 March 2021

The total rateable value of the properties at 31 March 2022 was

£66.0 billion

Down from £66.3 billion at 31 March 2021

The total floorspace of the properties at 31 March 2022 was

580.8 million metres squared

Down from 580.9 million metres squared at 31 March 2021

The overall rateable value per metre squared of the properties at 31 March 2022 was

£86

No change from £86 at 31 March 2021

2. The Central Rating List in England and Wales

Rates on Central Rating List (CRL) rateable properties in England are paid directly to the Department of Levelling Up, Housing and Communities (DLUHC), and in Wales are paid to the Welsh Government.

• the total rateable value of properties on the CRL at 31 March 2022 was £3.7 billion

• the properties in England accounted for £3.5 billion (95%) of this total and in Wales accounted for the remaining £0.2 billion (5%)

3. Time series of the stock of Properties in England and Wales

The following section shows the changes to property counts and total rateable value (RV) over time. Each time series covers four distinct Rating Lists (2000, 2005, 2010 and 2017) and shows data at 31 March for each year.

Figure 1: Number of rateable properties in England and Wales

Source: NDR Stock of Properties (Table 3.1)

Figure 1 shows the total number of properties in England and Wales at 31 March of each year from 2001 to 2022. The number of properties has been steadily increasing since 31 March 2001; at 31 March 2022 it had increased from 1.74 million to 2.14 million (an increase of 23%). Between 1 April 2021 and 31 March 2022, the number increased from 2.13 million by 12,180 (1%).

Figure 2: Total rateable value in England and Wales

Source: NDR Stock of Properties (Table 3.2)

Figure 2 shows total RV in England and Wales at 31 March of each year from 2001 to 2022. Each sharp increase in total RV coincides with the end of a revaluation cycle and the introduction of a new Rating List. Since 31 March 2018 (the first year of the 2017 Rating List), total RV has increased from £66.0 billion by £46.6 million (less than 0.1%). Between 1 April 2021 and 31 March 2022, RV decreased from £66.3 billion by £260.6 million (less than 1%).

3.1 Distribution by sector

‘Sector’ consists of the following categories: Retail, Industrial and Office (RIO), which is a categorisation commonly used by those in the surveying profession. VOA statisticians have, in conjunction with operational colleagues, mapped each SCat code to one of the three categories. The ‘Other’ category was created to cover SCat codes which could not be readily assigned to ‘Retail’, ‘Office’ or ‘Industry’.

For more detail on the types of properties included within each sector, please see Figure 11. Further detail is also included in the Background Information document and NDR Stock of Properties Metadata.

Figure 3: Number of rateable properties by sector in England and Wales

Source: NDR Stock of Properties (Tables 4.1, 5.1, 6.1 & 7.1)

Figure 3 shows the total number of properties in each sector in England and Wales at 31 March of each year from 2001 to 2022.

Since 31 March 2001:

• the number of properties in the Retail sector has decreased by 4%, from 538 to 518 thousand

• the Office sector has increased by 62%, from 271 to 440 thousand properties

• the Industry sector has increased by 16%, from 478 to 554 thousand

• the Other sector has increased by 38%, from 455 to 629 thousand

In the latest financial year (1 April 2021 to 31 March 2022):

• the number of properties in the Retail sector decreased from 519 thousand by 1,080 (less than 1%)

• the Office sector increased from 440 thousand by 170 (less than 0.1%)

• the Industry sector increased from 550 thousand by 3,810 (1%)

• the Other sector increased from 619 thousand by 9,280 (1%)

Figure 4: Total rateable value by sector in England and Wales

Source: NDR Stock of Properties (Tables 4.2, 5.2, 6.2 & 7.2)

Figure 4 shows total RV in each sector in England and Wales at 31 March of each year from 2001 to 2022. Each sharp increase coincides with the end of a revaluation cycle and the introduction of a new Rating List. Since 31 March 2018 (the first year of the 2017 Rating List):

• the total RV for the Retail sector has decreased by 1%, from £16.9 to £16.7 billion

• the Office sector has decreased by 3%, from £15.3 to £14.9 billion

• the Industry sector has increased by 3%, from £14.1 to £14.5 billion

• the Other sector has increased by 1%, from £19.7 to £19.9 billion

In the latest financial year (1 April 2021 to 31 March 2022):

• the total RV for the Retail sector decreased from £16.9 billion by £169 million (1%)

• the Office sector decreased from £15.1 billion by £249 million (2%)

• the Industry sector increased from £14.4 billion by £121 million (1%)

• the Other sector increased from £19.9 billion by £36 million (less than 1%)

4. The Stock of Properties in England and Wales at 31 March 2022

The following section shows a more detailed view of property counts and total RV at 31 March 2022.

4.1 Distribution by sector

Figure 5: Number of rateable properties by sector in England and Wales

Source: NDR Stock of Properties (Tables 4.1, 5.1, 6.1 & 7.1)

Figure note: Counts are rounded to the nearest 10

Figure 5 shows property counts by sector at 31 March 2022. The Other sector had the highest count with 629 thousand properties (29% of the total properties). The Office sector had the lowest count with 440 thousand properties (21%).

Figure 6: Total rateable value by sector in England and Wales

Source: NDR Stock of Properties (Tables 4.2, 5.2, 6.2 & 7.2)

Figure note: RV totals are rounded to the nearest £100 million

Figure 6 shows total RV by sector at 31 March 2022. The Other sector had the highest total RV with £19.9 billion (30% of the overall total RV). The Industry sector had the lowest total RV with £14.5 billion (22%).

4.2 Distribution by region

Figure 7: Number of rateable properties by region and sector

Source: NDR Stock of Properties (Tables 4.1, 5.1, 6.1 & 7.1)

Figure note: Counts are rounded to the nearest 10

Figure 7 shows property counts by region and sector at 31 March 2022. London had the highest count with 324 thousand properties (15% of the total properties). The North East had the lowest count with 90 thousand properties (4%).

Figure 8: Total rateable value by region and sector

Source: NDR Stock of Properties (Tables 4.2, 5.2, 6.2 & 7.2)

Figure note: RV totals are rounded to the nearest £100 million

Figure 8 shows total RV by region and sector at 31 March 2022. London had the highest total RV with £19.9 billion (30% of the overall total RV). The North East had the lowest total RV with £2.2 billion (3%).

4.3 Distribution by rateable value band

Distributions by rateable value band are presented as tables. This is because the band ranges are not consistent, therefore, totals should not be directly compared.

Table 1: Number of rateable properties by rateable value band and sector

Rateable value band	Retail	Office	Industry	Other	Total
£0-0.9k	5,370	25,970	45,440	101,240	178,010
£1-1.9k	14,430	53,260	41,390	52,220	161,300
£2-3.9k	68,620	80,660	81,820	103,210	334,310
£4-5.9k	80,150	53,620	70,770	64,190	268,740
£6-7.9k	64,840	37,970	54,440	47,870	205,120
8-9.9k	49,390	28,630	41,030	29,570	148,620
£10-11.9k	37,510	21,850	31,570	24,610	115,550
£12-13.9k	27,720	15,690	22,370	22,780	88,560
£14-14.9k	10,770	6,130	8,840	7,800	33,540
£15-19.9k	38,410	22,790	32,680	31,770	125,650
£20-24.9k	22,960	15,380	22,450	20,890	81,680
£25-49.9k	47,630	34,270	50,950	52,130	184,980
£50-50.9k	1,120	790	1,100	1,420	4,420
£51-99.9k	22,750	19,410	26,200	33,420	101,780
£100-249.9k	15,830	14,000	15,370	23,370	68,570
£250-499.9k	6,270	5,230	4,500	7,680	23,670
£500-999.9k	2,240	2,590	1,750	2,850	9,430
£1m+	1,990	1,600	1,170	1,680	6,430

Source: NDR Stock of Properties (Table 2.1)

Table notes: Counts are rounded to the nearest ten. Totals may not sum due to rounding.

Table 1 shows property counts by RV band in England and Wales at 31 March 2022. There were 1.4 million properties (66% of the total properties) with an RV of less than £12,000. A further 122 thousand properties (6%) had an RV of £12,000 to £14,999. Properties with an RV of at least £15,000 accounted for 28% of all properties.

Table 2: Total rateable value by rateable value band and sector

Rateable Value Band	Retail (£m)	Office (£m)	Industry (£m)	Other (£m)	Total (£bn)
£0-0.9k	2	14	20	50	0.1
£1-1.9k	23	79	62	75	0.2
£2-3.9k	210	233	242	301	1.0
£4-5.9k	397	263	349	311	1.3
£6-7.9k	448	262	376	328	1.4
8-9.9k	440	255	365	263	1.3
£10-11.9k	407	237	342	267	1.3
£12-13.9k	355	201	286	291	1.1
£14-14.9k	155	88	127	112	0.5
£15-19.9k	658	392	563	546	2.2
£20-24.9k	510	342	499	464	1.8
£25-49.9k	1,649	1,195	1,775	1,835	6.5
£50-50.9k	56	39	55	71	0.2
£51-99.9k	1,589	1,367	1,831	2,378	7.2
£100-249.9k	2,489	2,160	2,323	3,519	10.5
£250-499.9k	2,113	1,817	1,537	2,641	8.1
£500-999.9k	1,546	1,777	1,189	1,902	6.4
£1m+	3,695	4,162	2,542	4,566	15.0

Source: NDR Stock of Properties (Table 2.1)

Table notes: Sector figures are rounded to the nearest £1 million. RV band totals are rounded to the nearest £100 million. Totals may not sum due to rounding.

Table 2 shows total RV by RV band in England and Wales at 31 March 2022. Properties with an RV of under £15,000 had a total RV of £8.2 billion, accounting for 12% of the overall total. Only 6,430 (less than 1%) of properties in England and Wales had an RV of at least £1 million, however, their total RV adds up to £15.0 billion (23% of the overall total).

4.4 Distribution by sub-sector

Figure 9: Number of rateable properties by sector and sub-sector in England and Wales

Source: Stock SCat, 2022 (Table 1.1)

Figure note: Counts are rounded to the nearest 10

Figure 9 shows property counts by sub-sector in England and Wales at 31 March 2022. The sub-sector with the most properties was Shops with 509,360. The sub-sector with the fewest properties was Residential Institutions with 430.

Figure 10: Total rateable value by sector and sub-sector in England and Wales

Source: Stock SCat, 2022 (Table 1.1)

Figure note: RV totals are rounded to the nearest £100 million

Figure 10 shows total RV by sub-sector in England and Wales at 31 March 2022. The sub-sector with the highest RV was Shops with £16.3 billion. The sub-sector with the lowest RV was Residential Institutions with £122.9 million.

5. Time series of Business Floorspace in England and Wales

The following section shows the changes to business floorspace, RV per metre squared, the number of properties without a floorspace and their associated RV over time. Each time series covers four distinct Rating Lists: 2000, 2005, 2010 and 2017 and shows data at 31 March for each year.

Floorspace is defined as the internal area in metres squared used to calculate a property’s rateable value. In most instances, this will not include communal areas such as kitchens and facilities such as toilets. Not all property types are given a rateable value based upon their floorspace. Only properties valued using their internal floor area are included in total floorspace counts and RV per metre squared. More information on which special categories are excluded from floorspace and rateable value per metre squared counts is contained within the metadata table available on the release page.

In England and Wales at 31 March 2022, rounded to the nearest 10:

• a total of 1,704,290 properties across 158 SCat codes were included in the 2022 floorspace counts and RV per metre squared; this accounts for around 80% of all properties on the NDR Rating List

• 516,880 of these properties with floorspace were in the Retail sector (almost 100% of all Retail sector properties)

• 439,840 properties were in the Office sector (100%)

• 548,330 properties were in the Industry sector (99%)

• 199,240 properties were in the Other sector (32%)

5.1 Floorspace

Figure 11: Total floorspace in England and Wales

Source: NDR Business Floorspace, 2022 (Table 1.1)

Figure note: The y-axis has been zoomed in so that the trend over time is visible

Figure 11 shows the total floorspace in England and Wales at 31 March of each year from 2001 to 2022. Total floorspace increased from 571.3 million metres squared in 2001 to 581.4 million in 2007, but between 2008 and 2011 total floorspace decreased by 8.7 million metres squared (1%); this reflects the effects of the global financial crisis that happened in 2007 to 2008. From 2011, floorspace has been steadily increasing again, and was 580.8 million metres squared at 31 March 2022.

Figure 12: Total floorspace by sector in England and Wales

Source: NDR Business Floorspace, 2022 (Tables 2.1, 3.1, 4.1 & 5.1)

Figure 12 shows the total floorspace of each sector in England and Wales at 31 March of each year from 2001 to 2022. The decrease in floorspace from 2008 to 2011 (figure 11) is only reflected in the Industry sector; all other sectors show much less fluctuation over time. This finding is consistent with other sources, for example, the UK Commission for Employment and Skills (UKCES) publication The Labour Market Story: The UK Following Recession and the Office for National Statistics (ONS) publication Manufacturing sector performance, UK: 2008 to 2018.

Overall, in the 21 year period since 31 March 2001:

• the total floorspace of the Retail sector has increased by 9%, from 96.3 to 104.7 million metres squared

• the Office sector has increased by 6%, from 79.5 to 84.6 million metres squared

• the Industry sector has decreased by 3%, from 344.9 to 335.1 million metres squared

• the Other sector has increased by 12%, from 50.5 to 56.5 million metres squared

In the latest financial year (1 April 2021 to 31 March 2022):

• the total floorspace of the Retail sector decreased from 105.5 to 104.7 million metres squared

• the Office sector decreased from 86.3 to 84.6 million metres squared

• the Industry sector increased from 332.8 to 335.1 million metres squared

• the Other sector increased from 56.3 to 56.5 million metres squared

5.2 Rateable value per metre squared

Figure 13: Rateable value per metre squared in England and Wales

Source: NDR Business Floorspace, 2022 (Table 1.2)

Figure 13 shows the RV per metre squared in England and Wales at 31 March of each year from 2001 to 2022. Each sharp increase results from the end of a revaluation cycle and the introduction of a new Rating List. Since 31 March 2018 (the first year of the 2017 Rating List), total RV has remained constant at £86.

Figure 14: Rateable value per metre squared by sector in England and Wales

Source: NDR Business Floorspace, 2022 (Tables 2.2, 3.2, 4.2 & 5.2)

Figure 14 shows the RV per metre squared of each sector in England and Wales at 31 March of each year from 2001 to 2022. As in figure 13, each sharp increase results from the end of a revaluation cycle and the introduction of a new Rating List. Since 31 March 2018 (the first year of the 2017 Rating List):

• the RV per metre squared of the Retail sector has increased by less than 1%; it was £158 in both 2018 and 2022

• the Office sector has increased by 3%, from £171 to £176

• the Industry sector has increased by 1%, from £39 to £40

• the Other sector has increased by 2%, from £88 to £89

In the latest financial year (1 April 2021 to 31 March 2022):

• the RV per metre squared of the Retail sector decreased from £159 to £158

• the Office sector increased from £175 to £176

• the Industry sector did not change from £40

• the Other sector did not change from £89

5.3 Properties without a floorspace

This section describes properties which are not valued using their internal floor area, for example, Hotels. More information on which special categories are excluded from floorspace and rateable value per metre squared counts is contained within the metadata table available on the release page.

Figure 15: Number of rateable properties without a floorspace in England and Wales

Source: NDR Business Floorspace, 2022 (Table 6.1)

Figure 15 shows the total number of properties without a floorspace in England and Wales at 31 March of each year from 2001 to 2022. Over that time, the number of properties without a floorspace has increased by 40%, from 311 thousand to 436 thousand. Between 1 April 2021 and 31 March 2022, the number increased from 428 thousand by 2%. At 31 March 2022, properties without a floorspace accounted for 20% of the total properties.

Figure 16: Total rateable value of properties without a floorspace in England and Wales

Source: NDR Business Floorspace, 2022 (Table 6.2)

Figure 16 shows the total RV of properties without a floorspace in England and Wales at 31 March of each year from 2001 to 2022. Each sharp increase in total RV results from the end of a revaluation cycle and the introduction of a new Rating List. Since 31 March 2018 (the first year of the 2017 Rating List), the total RV of properties without a floorspace has increased by less than 1%, remaining steady at 16.1 billion. At 31 March 2022, the RV of properties without a floorspace accounted for 24% of the total RV.

6. Further Information

More information about this release can be found in the Background Information document

Further information on the area codes used in this can be found on the ONS website

More information on statistics at the VOA can be found on the Agency’s website: About VOA statistics

Timings of future releases are regularly placed on the VOA research and statistics calendar

We will keep the format of this document under review to continue improving the presentation of our statistics, and welcome feedback from users on the value of the information provided in this commentary – please forward any comments to the Statistics Inbox