New research shows the value we’re adding

28 May 2024
2 mins

The work we do to provide safe, secure, and affordable homes to our customers makes a huge contribution to society, a new report has found.  

Working with a group of leading social housing providers, Platform Housing Group has supported new independent academic research that shows the social homes we provide generates economic growth and saves public services, like the NHS, millions of pounds a year. Each year, our social homes deliver: 

  • £170.9m at least in savings to the NHS 
  • £291.4 at least in economic benefits 
  • £78.3m at least in savings to local councils  

The ‘Value of a social tenancy’ model also shows we create £24,337 in value each year for every social rented home we provide; that’s a total of£961.7m. 

The new report, The value of a social tenancy: Updating and developing the model in 2024, calculates the savings to the state, and benefits to other public bodies, of someone living in social housing, compared to someone living in temporary accommodation, or poor-quality private accommodation. 

The savings to the NHS, for example, are achieved because people living in social housing are less likely to visit their GP or A&E, because they’re healthier. 

Elizabeth Froude, Group Chief Executive at Platform Housing Group, said "The true value to our national economy of a Social Home has long been acknowledged as having wider value to society, 

Until now we have however been unable to give a hard and fast value that could be given to external stakeholders , such as the Government Treasury, to evidence why we are a good investment on a national scale.

Along with a number of other larger landlords Platform funded HACT in progressing of this enormously valuable piece of work to create a standardised, evidence based way to value the work of our sector.

I truly hope it allows us to be given the credit and investment as a key contributor to the wellbeing of society, that will enable us all to coalesce around a stronger future with the backing of any future Government."

This report makes clear just how valuable social housing is to the people who live in the homes we provide, but also to wider society. We’re urging the government to look at the findings of this new report and to provide a stable, long-term national plan for housing. 

The research also found that, together, England’s 4.2 million social homes contribute at least £77.7 billion a year to the national economy and in savings for public services.  

You can read the research, which was produced by Sonnet Advisory & Impact CIC here