A recent evaluation carried out by Gauge NI has demonstrated that for every £1 invested in Co-Ownership, £10 social and economic value is generated for customers.
Co-Ownership is a not-for-profit organisation that promotes affordable home ownership and helps people get on the property ladder. Co-owners choose a home, buy a share of it with a mortgage and pay rent on the remainder.
The organisation commissioned Gauge NI to carry out a Social Return on Investment (SROI) evaluation of their work in 2017-18 to assess their social impact. The SROI model uses monetary value to represent the social costs and benefits of the programme and the evaluation found that for every £1 invested, approximately £10 of social and economic value was returned.
Some of the key findings of the evaluation were:
803 homes were bought at a total cost of £96m
550 co-owners bought out and have become full home owners or have sold their home
75% of customers chose Co-Ownership because they didn’t have a deposit
85% of customers said they feel part of the community where they live now
75% of customers now feel more financially secure
As part of the evaluation a Gauge NI associate carried out stakeholder engagement with customers to find out what has changed in their lives as a result of buying a property with Co-Ownership. The key benefits were revealed to be:
Getting the home they want
Independence and autonomy
Being able to choose a home close to family and friends
Improved mental and physical health
To help Co-Ownership communicate the findings of the SROI report in an eye-catching way Gauge produced an impact card with the key information. Click on the image above to see the details. To find out more about Co-Ownership visit their website.
If you’d like to find out about how you can measure the social impact of your organisation, get in touch with us.
Tel 028 9043 6400
Email hello@gaugeimpact.org