4 June 2020
New report reveals the social value of Anchor Hanover's housing
The enormous contribution made by retirement housing to tenants’ wellbeing and corresponding savings for the state are revealed today in the most comprehensive report of its kind.
In a study with far-reaching implications for all providers and commissioners, and building on its earlier work on general needs social housing, Sonnet Advisory & Impact analyses the social value of Anchor Hanover’s rented retirement and extra-care housing. It calculates that at least £6,200 per year of “social value” is generated per tenancy.
Residents often move into retirement housing following a significant life change, such as retirement, loss of a partner or the onset of a health issue. Services include such diverse elements as providing a local housing manager, safety pull cords, aids and adaptations and enabling people to have pets.
The services and activities are the primary attraction for tenants, with over a fifth moving in for security and peace of mind and one in six moving in to maintain independence in light of declining health.
The research calculates the social value of these benefits, as provided in Anchor Hanover’s rented housing:
- At least £2,800 a year of additional value is delivered through supported housing for the average resident through helping them remain independent, safe and secure.
- It is in addition to the previously-calculated £3,400 a year of social value provided by general needs accommodation for older residents - that values the benefits of having a safe, sustainable and decent home.
- At least an additional £3,000 of costs a year are avoided for the NHS for each resident where Anchor Hanover’s activities manage to address loneliness.
- For every resident in Extra Care, the local authority benefits by avoiding costs of up to £6,700.
- In addition, the BeWise service supports residents financially, with the average BeWise customer benefiting by £6,000 through savings and accessing benefits they are entitled to.
Anchor Hanover Chief Executive Jane Ashcroft CBE said:
Many residents enter supported housing at a time when they are vulnerable to isolation, depression, anxiety and a loss of purpose. In a world where Coronavirus has created unprecedented challenges for individuals and public services, this research spotlights the vital role of specialist housing and care in improving people’s lives. Crucially, it also demonstrates the massive return on investment that such services provide for the state.
Anita Shah, the report’s lead author and Head of Impact and Evaluation at Sonnet, said:
The research uses the five pillars of wellbeing as a framework: financial wellbeing, physical wellbeing, mental wellbeing, relational wellbeing and purpose, all of which are positively affected by retirement housing and the support it brings. As such, it provides a lens to consider outcomes for individuals, the community and society as a whole.
If you want to find out more about Sonnet Advisory & Impact, visit their website here.
For more information contact the Communications Team at Anchor Hanover on 07713085004 or [email protected]
Other research papers and reports by Anchor Hanover
Supply of retirement communities needs to be boosted by a third by 2040, finds new report
The International Longevity Centre’s report, What we want: Future-proofing retirement housing in England, highlights the importance of housing designed specifically with emerging care needs in mind...