Monday, 28 July 2014

Housing key for northern economic growth

Shadow housing minister Jack Dromey has said that a new report into the impact of housing on the economy in the north of England shows the value of the sector to economic recovery.

The report by Sheffield Hallam University, commissioned by the Northern Housing Consortium, found that the sector was responsible for sustaining 116,000 full-time jobs.

It further found that housing contributed more than £10 billion annually to the northern economy, with a further £4.6 billion coming from ‘gross added value’ through such things as repairs and maintenance spending or staff wages.

Ahead of the launch of the report at the House of Commons yesterday (Tuesday), Mr Dromey said: ‘From the depression in the 1930s, through rebuilding Britain out of the ashes of war to the action taken by a Labour government in 2008 to get Britain building, house building has always been central to economic recovery.

‘This powerful report demonstrates the importance of investment in house building and how housing organisations can be an engine for homes, jobs and growth.’

The report also found that every £1 million of government investment in northern housing creates 51 new jobs.

Jo Boaden, chief executive of the NHC, said: ‘Housing organisations already employ as many people in the north as car manufacturing and contact centres combined. The outcome of this study show that housing organisations really are local engines for growth and are capable of generating and sustaining wide economic growth, if supported and funded appropriately.’

Have your say

You must sign in to make a comment

sign in register

Newsletter Sign-up

More Newsletters

Related

Articles

Resources

  • Room for procurement savings

    14/03/2014

    Scotland’s social housing sector is still dogged by the spectre of unnecessary procurement costs but it could save up to £42 million per year

  • The apprentice

    17/01/2014

    Faced with thousands of pounds of debt and uncertain job prospects, school leavers are increasingly taking up apprenticeships as an alternative to university. Gwen Smith meets apprentice turned housing officer Jordan McKenna to discover the benefits of learning on the job

  • The kids are alright

    11/10/2013

    Southampton Council’s junior warden scheme, now in its 10th year, has given 1,000 kids the opportunity to look after their community. Simon Brandon finds out why it’s so popular

  • A light in the dark

    04/07/2014

    The Lighthouse Project in Wales provides support to those most in need. Reni Eddo-Lodge finds out more

  • Mind over matter

    09/05/2014

    A Merseyside landlord is training its staff to become mental health first aiders to help them support both colleagues and tenants, as Helen Clifton reports

IH Subscription