We are all rushing around in the development sector getting homes constructed. Some of us are also trying to deliver even more affordable homes than the s106 requires. But why are we all doing this? For V10, it’s all about the social value that our daily grind delivers.
The term social value is defined as “the benefits for society resulting from a project or programme, or from an organisation’s activities, which are additional to any direct economic value.” In the UK, affordable housing is one of the most important factors in creating social value. Social value is generated when new affordable homes are built as the provision of such impacts communities, employment and education prospects.
Creating Communities
Affordable homes not only provide more people with access to housing but also enable access to essential services such as healthcare, education and transport links. This can have a positive impact on public health, poverty reduction and community cohesion. In addition, these homes can be built in areas that are in need of regeneration or growth; this helps create vibrant communities with increased social connectedness.
Employment and Education Prospects
Having a safe place to live can help individuals focus on their goals without having to worry about where they will sleep at night. Having access to affordable housing means that people will be able to save money for further education or starting their own business. Furthermore, affordable housing can enable job seekers to move closer to potential employers increasing their chances of securing stable employment and improving their career prospects overall.
V10’s Pledge
Social value generated from affordable homes in the UK is incredibly important to V10 because it gives more people access to secure accommodation and opens up opportunities for them in terms of employment and education prospects. Affordable homes also play an important role in creating vibrant neighbourhoods with improved public health outcomes, poverty reduction and community cohesion – all of which contribute towards a better quality of life for those living within the area. This why V10 invests all its efforts into providing additional affordable housing (over and above the requirement of an s106) to enable the generation of social value – thus improving people’s life chances, especially those on low to middle incomes.
