25 April 2023
We are proud to present our first Affordable Housing Impact Report as at 31 March 2023!
The purpose of this report is to inform stakeholders about Wiltshire Pension Fund's Impact Affordable Housing portfolio. It provides key facts and highlights the potential for stable, secured inflation-linked investment returns whilst benefiting residents, local communities within the UK, and the wider economy.
The social benefit from investing in these types of homes is completely integral to the investment case. We need to make sure that the managers who we have selected to deliver this portfolio are investing in line with their strategies, and the best way to do this is to monitor both the financial returns and also the positive impacts they are generating. We do this by collecting several metrics for our portfolio, which are detailed and explained within our report. We have also included case studies and other related information, in a simple and easy-to-read format.
We hope you enjoy the report!
The homes in our portfolio are located in areas with average affordability of 10.5, 27% higher than the national average of 8.3. This means that homes in our portfolio are generally being created in areas where affordability is more challenging for local residents.
You can also drill down into the detail of this portfolio, and see where we are adding new affordable homes, by using our interactive map! Each pin on the map represents one of the developments which we are invested in through our portfolio. Click on a pin to learn more - you can find details about the site including its size and location. You will also see the affordability ratio for 2022. This is the ratio of average house price to earnings in the local area, as calculated by the Office for National Statistics.
Site locations are approximate, some projects span more than one location.
Transaction year refers to the point at which forward commitment to a development was agreed, or there was an exchange of contract on acquistion of existing homes; 2021 includes investments prior to this date.
The total number of homes (units) held within Wiltshire Pension Fund's portfolio was 4,591 as at 31 March 2023, an additional 1,924 since 31 March 2022.
Local Authority (districts) - Are subnational divisions used by local government. These subdivisions can be used to find information from the ONS and other information agencies.
The 2011 rural-urban classification (RUC2011) - Provides a suite of classifications for use at a variety of geographic levels. Urban and rural domains are subdivided into six broad settlement types.
Housing affordability in England and Wales: 2022 - Uses annual data on house prices and annual earnings to calculate affordability ratios for national and subnational geographies in England and Wales. This analysis focuses on workplace-based earnings. Similar measures of affordability ratios for residence-based earnings together with other metrics, including private rental affordability are available in other ONS publications.
Wiltshire Pension Fund UK affordable housing site locations March 2023 on Google Maps - If inline frames are not supported by your browser, you can view the map using Google Maps.
Want to Learn More?
A site visit to a local investment is featured in our mini docu-film, part of the Purposeful Pension project with the Pensions Management Institute!
|Purposeful Pensions - its landed!|
|Investing in our own backyard|
|Affordable Housing Update|
|Wiltshire Pension Fund Affordable Housing Commitment|
Our UK affordable housing portfolio is delivering against its objectives, and we can see that our managers are delivering positive impacts for both people and the planet. We will continue to monitor and report on our progress in this area.