4.2 Metric 2: New supply delivered percentage
The regulatory definition of this metric is:“ The new supply metric sets out the number of new social housing and non-social housing units that have been acquired or developed in the year as a proportion of total social housing units and non-social housing units owned at period end. Registered providers will report on two new supply delivered ratios: n A. New supply delivered( Social housing units) n B. New supply delivered( Non-social housing units)”
Accord’ s recent performance against this metric is outlined below.
20 % 15 % 10 % 5 % 0 %
Metric 2- New supply delivered(%)
2015 2016 2017 2018
Metric 2A- Social Housing Units
Metric 2B- Non Social Housing Units
The results of this metric are reflective of the investment profiles outlined in the results for Metric 1 and are largely determined by the cycle of development programmes. This metric requires the exclusion of build for sale properties as they do not constitute a long-term part of a provider’ s asset base. As Accord has not developed any non-social housing units, a nil return is submitted for indicator 2B. Accord’ s performance is comparative to its peers for metric 2A.
3 %
Metric 2A- New supply delivered %- Social Housing Units
|
2 %
1 %
0 %
|
Accord 2018 |
Accord 2017 |
RP1( 2017) |
RP2( 2017) |
RP3( 2017) |
RP4( 2017) |
RP5( 2017) |
RP6( 2017) |
RP7( 2017) |
RP8( 2017) |
RP9( 2017) |
Metric 2A- Social Housing Units |
5 % 4 % 3 % 2 % 1 % 0 % |
Accord 2018 |
Accord 2017 |
RP1( 2017)
Metric 2B- New supply delivered %- Non Social Housing Units
RP2( 2017)
RP3( 2017)
RP4( 2017)
RP5( 2017)
RP6( 2017)
RP7( 2017)
RP8( 2017)
|
RP9( 2017) |
Metric 2B- Non Social Housing Units |
Did Accord meet its VFM target / objectives?
Yes – Development targets as agreed with Homes England for both completions( new homes coming in to management) and starts on site( the number of new homes build commenced, but not yet completed) for 2017 / 18 were exceeded. These targets were achieved whilst drawing less loan debt to fund development than budgeted. This was achieved as operating cash generated and grant secured was utilised instead of loan debt.
Future performance targets for this metric
As outlined in the commentary for Metric 1, Accord remains committed to supporting Homes England’ s strong appetite to increase the supply of new homes and as a result Accord expects the current upward trend to continue to increase in the future.
14 Accord Housing Association