Social value is a term that we are hearing more and more within the residential sector, and which is having a growing influence, particularly on procurement.

Social value is defined as “the quantification of the relative importance that people place on the changes they experience in their lives”. Obviously, housing and the environment created will have a significant impact on this.

The Public Services (Social Value) Act came into force on 31^st January 2013 and has recently been updated in March 2021. Fundamentally it requires the people who commission public services to think about how they can also secure wider social, economic and environmental benefits.