Simetrica-Jacobs was commissioned by Redrow plc, a leading housing developer in the UK, to demonstrate the social value of Redrow housing developments. The research which focused on valuing good quality homes and placemaking. We designed a Discrete Choice Study to elicit the preferences of Redrow customers and the general population for combinations of over 30 features related to home and place, such as the amount of green space on a development or the amount of natural light in the home, and estimate the consumer surplus.
We employed three methods to place monetary values on the social value for these features; incorporating existing valuations to the project context, subjective wellbeing analysis and stated preference (discrete choice experiment) analysis. By triangulating these values to an industry standard, Redrow can both demonstrate the total social value of a housing development and also benchmark its performance against its competitors.