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Briefings

Member Briefing: HBF publishes industry 'economic footprint' report

Date: 24/03/15

HBF publishes industry 'economic footprint' report

Dear members,

Please click here to view a new report HBF has published today at our Policy Conference, detailing the ‘Economic Footprint’ of the house building industry.

The report has been produced for HBF by economic Modelling agency Nathaniel Litchfield & Partners (NLP), who undertook a range of desk top reviews of published data and collated information from a number of HBF members to finalise the report. Using this compelling new research we have also today published a pre-election document, Building Communities, Growing the Economy which presents key headline suggestions for the next government.

The research commissioned by HBF and undertaken by NLP details the contribution the house building industry makes to the UK economy and its communities. Headline figures, based on the construction of 140k homes a year, include that the industry;

  • Contributes £19.2bn of economic output
  • Supports more than 600k jobs
  • Spends £5.5bn with suppliers, 90% of which stays in the UK
  • Generates £1.4bn per year in tax revenues for the Exchequer
  • Provides 32,000 affordable homes – worth £2.3bn –  built or financed by private house building with a  further £1bn paid to local authorities as a contribution to more affordable housing
  • Pays £576M towards community facilities including;
    • £225M towards education facilities alone - enough to fund 52,000 classroom places;
    • £131m in open spaces and community and sports facilities.
  • Generates a £3.8bn spend in local shops and services

Other benefits identified in the report include that the industry;

  • Plants an estimated 6.5M trees and shrubs
  • Recycles around 80% of its waste

It also outlines the additional benefits that would be gained from building a further 100,000 homes a year that would better meet the UK’s housing need.

Over the coming weeks we will be developing a tool for our web site that will allow members to calculate the figures for Local Authority areas or individual towns/cities. These numbers can then be used with local media and also planning authorities to demonstrate the need for housing development in their areas. We will update you on progress with this work shortly.

The headline figures have formed the basis of the HBF election manifesto that we are also launching at our policy conference today – and at which the housing spokespeople for the three main parties are speaking. We will be sending the manifesto to all the candidates at the forthcoming election. A copy of the manifesto- and a longer more detailed version – can be found at our election special page: www.hbf.co.uk/election2015