With sponsorship from Clarion Housing Group and KeepMoat, HACT, the sector’s ideas and innovation agency, launches a new suite of Wellbeing Values to measure the social impact of core housing activity.
The Social Value Bank is now widely used across the sector to measure the impact of community investment activity and homelessness. With £3.3 billion spent by housing associations on routine maintenance, planned maintenance and major repairs (a huge proportion of organisational expenditure), this major extension of the Social Value Bank helps affordable housing providers to measure the social value of maintaining and improving their homes.
Improving the quality of homes and neighbourhoods is good for tenants. But the ability to determine the social impact of repairs, maintenance and neighbourhood regeneration on the lives of those actually receiving the perceived benefits unitl now has not been robustly described.
This major update extends the applicability of the Social Value Bank beyond Community Investment activity through analysis of the English Housing Survey. It broadens the evidence available to housing providers to help inform business decisions by introducing the ability to consider quantitatively, for the first time, the social impact of a range of outcomes related to core housing activity on their tenants’ lives.
The new suite of values is available immediately on the HACT website and is being launched at the HACT and NHC ‘Mainstreaming Social Value’ conference on 1 February, with Alex Willey, Elanor Warwick and John Stevens of Clarion Group as featured speakers.
Launching the values, Andrew van Doorn, CEO of HACT, said, “HACT is thrilled to continue our long-standing collaboration with Affinity Sutton, now as part of Clarion Group. By introducing a new suite of values to the Social Value Bank, we are excited to support affordable housing providers as they move towards describing their total account of social value, and embed this work in their investment ecisions in new and existing homes, regeneration and neighbourhood programmes.”
You can access the values and the new guideline manual here. Any enquiries on the new values can be directed to firstname.lastname@example.org.
This research reaffirms Clarion Housing Group’s position as commissioner of cutting edge, high utility social impact research that pushes boundaries, and supports more effective investment in social housing. Clarion Housing Group was formed from the recent merger of Affinity Sutton and Circle.
Keepmoat is a housing and construction company that aims to construct, refurbish and regenerate places to improve economic and social outcomes for people. It works in hundreds of communities across the UK delivering a wide variety of projects for local people. Its activities cover new build, regeneration, responsive repairs and maintenance.
In partnership, HACT and Simetrica have established a reputation for producing ground-breaking social impact measurement research and the development of accompanying practical tools for the housing sector. This includes the 2014 study Measuring the Social Impact of Community Investment: a Guide to Using the Wellbeing Valuation Approach and accompanying Value Calculator, and the 2015 studies The Health Impacts of Housing Associations' Community Investment Activities and The Wellbeing Value of Tackling Homelessness.
The Social Value Bank, created in partnership with HACT, is the largest bank of methodologically consistent and robust social values ever produced. The values can provide a basic assessment of social impact, provide evidence of value for money, and compare the impact of different programmes. The values can also be used within a full SROI or Cost-Benefit Analysis.