18 | Accord Housing Association
How Accord Compares Against Peer Organisations
The Regulator of Social Housing requires providers to assess performance against seven prescribed value for money metrics . Accord ’ s peer organisations are summarised below and have specific comparability . All peer associations selected are categorised as ‘ traditional ’ housing associations operating outside London .
The peers are comparable to Accord in size and also in the extent of their provision of supported housing and housing for older people . Black Country Housing Association and Trident Group are both fellow members of the Matrix Housing Partnership and are known to have comparable operating activity profiles in similar operating geographies and are therefore also included in the peer group . Data is taken from the Regulator ’ s published 2019 Global Accounts VfM Metrics .
Registered Provider ( All 2019 data unless otherwise stated )
Total social housing units owned / managed
% housing for older people units owned / managed
Total turnover £ millions
% of turnover from non social housing activities
Accord Housing Association ( 2020 ) 13,032 15.8 % 125.0 35.4 % Black Country Housing Group 2,164 16.7 % 18.1 15.7 % East Midlands Housing Group 18,650 7.8 % 103.8 14.9 % Grand Union 11,799 18.4 % 74.3 4.5 % Mosscare St Vincents Housing Group 8,331 7.8 % 44.4 4.1 % Nottingham Community Housing Association 9,442 5.1 % 77.1 0.8 % Paragon Asra Housing 21,272 11.9 % 159.5 2.1 % Plus Dane Housing 13,092 3.1 % 74.0 4.6 % Regenda 12,292 6.7 % 68.9 8.9 % South Yorkshire Housing Association 5,602 6.9 % 48.7 22.9 % Trident Housing Association 2,953 2.0 % 33.3 4.1 %
Benchmarking against both Accord ’ s own historic performance and also against other peer organisations is summarised below . The peer group median has been used in line with best practice . An assessment of performance against targets has also been provided for each of the metrics . Peer organisations have been anonymised in the benchmarking outcome and the order in which organisations appear in the table above is not representative of the referencing used in the benchmarking results published below where Accord ’ s 2020 results and Accord ’ s 2019 results are compared with the peer group 2019 results .
|
Accord |
Accord |
Peer Group Median |
Value for Money Metric |
2020 |
2019 1
|
2019 2
|
Business Health Operating margin ( overall ) |
21.4 % |
22.4 % |
21.4 % |
Operating margin ( social housing lettings ) |
34.2 % |
37.0 % |
30.0 % |
EBITDA MRI interest cover % |
155.8 % |
157.7 % |
171.7 % |
Development New supply -social housing |
1.3 % |
1.9 % |
1.8 % |
New supply - non-social housing |
0.00 % |
0.02 % |
0.00 % |
Gearing |
49.4 % |
50.2 % |
40.8 % |
Operating Efficiency & Effectiveness Reinvestment % |
5.4 % |
6.4 % |
5.1 % |
Return on capital employed |
3.3 % |
3.0 % |
3.5 % |
Social housing cost per unit £ 000 |
3.851 |
3.713 |
3.892 |
|
1
These are our 2019 metrics according to the RSH Value for Money report – Global Accounts 2019 published in January 2020 .
|
|
2
These are the median average results for the 10 registered providers identified above based on the RSH Value for Money
|
report – Global Accounts 2019 published in January 2020 . |