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Housing associations’ value to Welsh economy up 20%
Welsh housing associations contributed £886m in gross added value to the country’s economy in 2017/18 – a rise of 20% on last year’s figures.
Community Housing Cymru released the figures on Wednesday as part of its annual report on the sector’s socio-economic impact, produced by Beaufort Research.
Housing associations spent more than £1.2bn in total in 2017/18, up 13.5% from the previous financial year.
The study found that 84% of this spending stayed in Wales, helping to create 23,000 jobs.
Direct labour costs, construction and maintenance and repairs accounted for 35.2%, 25.8% and 21.3% of the Wales-based expenditure respectively.
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The sector delivered 1,876 homes in 2017/18 – a 26% drop on the previous year. However, the report said that housing associations expect their output to hit 3,045 homes in 2018/19.
“This report shows that Welsh housing associations are in it for the long term, and yet again delivering an economic and social boost in local communities across the country,” said Clarissa Corbisiero-Peters, deputy chief executive of Community Housing Cymru.
“The ongoing review of affordable housing supply in Wales provides an opportunity to ensure that we create a policy environment which allows housing associations to deliver our vision of a Wales where good housing is a basic right for all.”
