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Creating value for society

Welcome | Our 2050 strategy| Supporting customers | Providing safe, energy-efficient homes | Delivering homes | Financial performance | Value for money | Our staff 

We know social housing creates safe and sustainable communities. It reduces the burden on emergency services, healthcare and local authorities. However, measuring and demonstrating that value hasn’t always been easy, which is why we launched the Value of a Social Tenancy report in 2018.

Highlights 2020/21

  • Annual social value of a Hyde tenancy was £19,067 (2019/20: £21,001)
  • Annual social value from all Hyde tenancies was £648m(2019/20: £723m)
  • HM Treasury sees a total value of at least £6,277 per year, per tenancy (2019/20: £5,698)
  • Core social value increases in 2020/21

    The ‘core’ social value of tenancies (excluding construction and maintenance impact) grew from at least £471m, or £13,682 per tenancy in 2019/20, to £502m and £14,781 per tenancy in 2020/21, across our 33,989 rented and shared ownership homes (34,416 in 2019/20).

    Aside from inflation, this increase is due mainly to the sharp rise in people moving into social housing from temporary accommodation during the coronavirus pandemic. Moving people from temporary accommodation to social housing delivers significant savings for local authorities (and therefore increases the value of social tenancies).

  • Total social value impacted by reduced construction activity in 2020/21

    Despite the increase in core social value, our total social value in 2020/21 was at least £648m or £19,067 per tenancy, down from £723m and £21,001 in 2019/20. This was caused by the reduction in construction activity during COVID-19, which meant the impact from our construction activity reduced from £236m, or £5,992 per tenancy, in 2019/20, to £101m and £2,956 in 2020/21.

    The economic impact of maintenance activity was £45m, or £1,330 per tenancy in 2020/21, in line with the previous year, (£51.9m and £1,327 in 2019/20), as we resumed our full repairs and maintenance service during the second and third lockdowns. As a result, the total construction and maintenance impact in 2020/21 was £146m, or £4,287 per tenancy (£252m and £7,319 in 2019/20).

  • The value of Hyde social tenancies to HM Treasury

    HM Treasury sees a total value of at least £6,277 per year, per tenancy (2019/20: £5,698) directly to government agencies, and a further £12,064 (2019/20: £14,617) in broader economic gains. There’s a direct relationship between the return generated (to both public finances and the economy) and the number of social tenancies the Treasury enables.

  • The value of a social tenancy by key stakeholder

    The annual direct benefit of all Hyde’s social tenancies, £502m, is shared between:

    • Economy: £243m - 10,642 more adults are in work through the stability of social housing, generating £224m; social tenancies reduce presenteeism saving £5m; social tenancies halve absenteeism to ten days a year, saving £14m
    • NHS: £94m - People in social housing have improved physical and mental wellbeing, resulting in fewer drug and alcohol issues, fewer falls for the elderly, reduced incidence of childhood asthma and fewer GP and A&E attendances
    • Police and Justice: £66m - People in social housing are less likely to be involved in, or be victims of, crime. This reduces the number of police callouts not resulting in an arrest, saving £7m and there are 9,337 fewer incidents, saving £59m
    • Local Authority: £59m - Moving 8,237 people out of temporary accommodation saves £54m; helping the elderly stay independent for longer saves £4m; Children in social housing are less likely to be on the Child Protection Register, saving £1m
    • DWP: £20m - People living in social housing are more likely to be employed, reducing Universal Credit claims
    • Education: £16m - Children living in social housing are more likely to attend school and have improved earning potential
    • Banks and Creditors: £2m - People living in social housing are less likely to have problem debt
    • Fire Service: £2m - Secure, safe and high quality social housing reduces the risk of fires.