Assessment of the evidence of financial benefits provided by Almshouses

This is a report from the Housing Learning and Improvement Network (LIN). The Almshouse Association commissioned an assessment of the evidence of financial benefits provided by almshouses, particularly in relation to the health and social care economy but also wider financial benefits.

This report sets out the evidence of the financial benefits provided by almshouses using evidence from existing data and from primary research with almshouses. The assessment of this evidence indicates that almshouses provide a range of financial benefits to the health and social care economy as well as wider financial benefits.

This report assesses the evidence of financial benefits provided by the current revival of almshouses, and figures reveal startling cost of saving to the economy.

• Not only do they free up 4,000 homes in the private and social housing sectors each year but they generate financial benefits to the health and social care sectors of £43 million per year through the provision of safe, secure and affordable housing.
   
• Other financial benefits of almshouses to the local economy are the investment in employed staff and voluntary work, estimated to be £56 million per annum.
   
• This includes £7.7 million a year through a reduction in GP and A&E visits – primarily through tackling loneliness and mental health issues.

Using a survey of The Almshouse Association charities and well-researched secondary evidence, it breaks down the financial benefits of £43m a year in the health and social care sector as follows:

• £7.8 million a year saved through a lower likelihood of residential care admission.
• £13.5 million saved through reduced need for domiciliary care.
• £12.2 million a year saved through reduced ambulance call-outs.
• £1.8 million a year saved through shorter length of stay and delayed discharges from hospital.
• £7.7 million a year through a reduction in GP and A&E visits – primarily through addressing loneliness and mental health issue.

These result in a saving to the health and social care sector of £1,340 per person living in an almshouse per year.

• Then the investment to the local economy through the employment of staff gives a benefit of £46.7 million a year and through voluntary work, a financial benefit of £8.9 million a year.

Ian Copeman, Business Director at the Housing LIN said

“This research is a welcome addition to the body of evidence that demonstrates the benefits of almshouses, for their residents but also to a wider range of partners, particularly local authorities and the NHS.”

This report is intended to assess the evidence of the financial benefits provided by almshouses primarily for an audience of local authorities, the NHS, Government, policy makers and other stakeholders with an interest in housing and accommodation for older people.