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