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