A 2011 report by the University of Reading surveyed 5,000 of our home owners and highlighted the benefits that they have experienced. The results are noted below:
- Increased wellbeing: 64% of our home owners said their health and wellbeing had improved since moving
- A higher quality of life: 92% of our home owners surveyed were very happy or contented
- Increased independence: 83% of our home owners believe they maintain their independence longer
- Greater safety, security and companionship: The immediate community and on-site staff help to reduce anxieties and maintain general health and well being
- Living locally: This form of accommodation helps our home owners to stay in their local area near their family and friends, but in accommodation better suited to their needs.
- Streamlined health and social care provision: visiting health professionals including doctors, nurses, chiropodists can visit several Home owners during one visit, which is more efficient use of public services
- Reduced impact on the NHS: as accommodation is designed for impaired mobility, home owners find it easier to return home after staying in hospital and spend fewer nights in hospital than on average for this age group. Most home owners move within a five mile radius of their new home so there is no additional impact upon local services
- Saving money: Specialist housing addresses the reasons why many older people are forced to move into residential care. For each year that someone delays or is prevented from moving into residential care the state saves on average £28,080 per year.
Contributing to the local economy
Our schemes provide a significant investment within a local area at no cost to the public purse.
- On average, each development represents an investment of around £5 million into the local economy
- Around 60 local companies are employed on a typical development to support our construction team and each scheme creates number of job opportunities once open.
- On moving, most home owners free up much needed family homes, with two thirds moving from homes with three or more bedrooms. For example, every 5,000 purchases of McCarthy & Stone developments free up family housing worth £1.1 billion back into local markets. This has a knock on effect that stimulates the housing chain and ultimately benefits the first time buyer.
Our developments also help to contribute to the vitality and viability of the local area as our home owners typically do their shopping within a mile radius. For example, 80% of our home owners use local shops almost daily or often and over 40% use the local library or post office frequently.
New Homes Bonus
Specialist housing for older people also provides significant income for the local authority. As well as increasing council tax, it also qualifies for the New Homes Bonus (NHB). The NHB is a Government initiative designed initiative to reward local authorities for developing new homes.
For a typical development of 40 apartments with an average B and D Council Tax rate of £1,400, this could mean hundreds of thousands of pounds for the local authorities, which is then able to spend this money as they deem fit. For example, it can be invested in new schools, health facilities, parks and other essential infrastructure. This money is also provided in addition to other local infrastructure payments that may be required during the planning process.