4.1
Metric 1: Reinvestment percentage
The regulatory definition of this metric is: “This metric looks at the investment in properties (existing stock as well as New Supply)
as a percentage of the value of total properties held”. Accord’s recent performance against this metric is outlined below.
Metric 1 - Reinvestment (%)
20%
15%
Metric 1 -
Reinvestment
%
10%
5%
0%
2015
2016
2017
2018
2015 saw a peak in performance as this was the final year of the 2011-2015 Homes England Affordable Homes Programme (Homes
and Communities Agency at the time of the programme). It is typical to see significant activity in the final year of a programme.
It is also typical to see significantly reduced activity in the subsequent year, being the first year of the next programme, as was
the case in 2016. The increasing activity in 2017 and 2018 is reflective of the progress being made in the delivery of the 2016-2021
Shared Ownership Affordable Homes Programme.
Performance against the benchmark cohort is outlined below and identifies that in both 2017 and 2018 Accord’s reinvestment
metric performs favourably when compared to peers.
Metric 1 - Reinvestment (%)
10%
8%
6%
Metric 1 -
Reinvestment
%
4%
2%
0%
Accord
2018
Accord
2017
RP1
(2017)
RP2
(2017)
RP3
(2017)
RP4
(2017)
RP5
(2017)
RP6
(2017)
RP7
(2017)
RP8
(2017)
RP9
(2017)
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. In
addition, amounts invested in existing properties aligned with expectations both in respect of budgets committed and works
undertaken against plans.
Future performance aspirations for this metric
Accord is committed to supporting Homes England’s strong appetite to increase the supply of new homes delivered by the
Social Housing sector. Furthermore, Accord is committed to maintaining high quality homes and communities. As a result
Accord expects the current upward trend for reinvestment percentage to continue to increase in the future.
Financial Statements 2018
13