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A resilient organisation, making a positive difference to homes, lives and communities

Head office 0800 048 8955

Value for money (VFM)

As a not-for-profit housing organisation, delivering value for money is crucial. Every £1 that we spend on homes and services has to work for our customers and communities. 

Value for money is at the heart of our Fair Landlord approach, ensuring that we allocate our resources fairly, to benefit more of our customers.

What do we mean by value for money

Value for money is much more than a financial statement. It is about looking at everything we do and making sure:

  • What we spend provides value for money and delivers a good return
  • We understand the costs and outcomes of our services enabling us to make informed decisions on how we spend our resources
  • We are working efficiently and effectively 
  • Our work brings benefits to customers and communities
  • We continually review the best ways to deliver our services including considering  partnership opportunities to support our work

Every year we report back to you on the value for money the Group provides, which can be viewed below, along with our Group value for money strategy. Keep scrolling to see our key metrics from 2019-20.

Key metrics: VFM dashboard 2019/20

On this page, you will find a summary of the key metrics from our 2019-20 VFM report. To read the full 2019-20 report, please click here.

Operating efficiencies

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Headline social housing cost per unit
£2,833*/ £3,370**
Target 2019/20 £3,336.
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% current tenant arrears
1.2%
Target 2019/20 3.13%

*regulators method of calculating mergers for FVA (annual electronic accounts) 

**based on combined figures for SARH & HPG

Outcomes delivered

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Customer satisfaction
82.9%
Target 2019/20 80%
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Number of customers supported into education, training & employment
81
Target 2019/20 60
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Reinvestment %
6%* / 10%**
Target 2019/20 7%

Full marks for homework club pilot 

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*regulators method of calculating mergers for FVA (annual electronic accounts) 

**based on combined figures for SARH & HPG

Development (capacity and supply)

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New supply delivered % (social housing)
1.55%
Target 2019-20 1.2%
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Gearing %
62%
Target 2019-20 80%

Housing Plus Group named in Top 50 Biggest Builders

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Effective asset management

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Return on capital employed %
4.1%
Target 2019-20 5.0%
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Voids loss (including rent loss, void repair costs and utilities)
£1.71m
Target 2019-20 £1.69m
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% sickness absence
3.9%
Target 2019-20 4%

Apprentices building firm foundations for trade careers

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Business health

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Operating margin % (social housing lettings)
24%
Target 2019-20 31%
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Operating margin % (overall)
25%
Target 2019-20 34%
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EBITDA MRI interest cover %
135%
Target 2019-20 137%

Looking ahead: VFM dashboard 2020-21

Metric

Target 2019-20

Actual 2019-20

Target 2020-21

Links to corporate objectives

 

Regulator of Social Housing metrics

Headline Social Housing cost per unit

£3,336

£2,833/ £3,370

£3,420

These metrics are mandatory; however we need to perform to our targets.  HPG will not be top quartile for all, because our corporate objectives balance these demands.  Performing to our targets for these metrics does mean that we will achieve our headline corporate objectives:

Reinvestment %

7%

6%/10%

7%

New supply delivered % (social housing)

1.20%

1.55%

1.55%

New supply delivered % (non-social housing)

0

0

0

Gearing %

80%

62%

62%

Operating margin % (social housing lettings)

31%

24%

27%

Operating margin % (overall)

34%

25%

29%

Homes: A leading provider of quality, affordable homes

EBITDA MRI interest cover %

137%

135%

155%

Lives: A dependable supplier of services that customers can trust

Return on capital employed %

5%

4.10%

4.24%

Communities: An investor in communities across Shropshire & Staffordshire

HPG metrics 2020-21

Specific Corporate Objective

% current tenant arrears

3.13%

1.20%

3%

Continue to invest in our existing assets, ensuring homes are well maintained and benefit from ongoing improvement programmes

Voids loss (including rent loss, void repair costs and utilities)

£1.69m

£1.71m

£1.75m

Compliance with statutory checks

n/a new 20-21

n/a new 20-21

100%

Maintain sector leader status in property compliance and health and safety activities

Customer satisfaction

80%

82.90%

87%

A dependable supplier of services that customers can trust

% of our Care and Support customers rate our services as 'good' or 'very good'

n/a new 20-21

n/a new 20-21

95%

Number of customers supported into work or a better/more permanent job

n/a new 20-21

n/a new 20-21

20

Invest in our communities and provide advice to support financial wellbeing and improve employability

Create 20 apprenticeships in our business and with our partners

n/a new 20-21

n/a new 20-21

20

Create 20 apprenticeships in our business and with our partners

Value of money savings secured for customers by money advice service

n/a new 20-21

n/a new 20-21

£2.73m

Invest in our communities and provide advice to support financial wellbeing and improve employability
 

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