This report is based on research carried out by Lichfields for the Home Builders Federation (HBF) and shows the huge contribution house building is making to the economy in the West of England. Over 5,000 new homes were provided in the region over the last year, generating just short of £1bn to the local economy.
As well as being a major employer and supporter of local supply chain businesses, new developments make significant contributions towards local infrastructure and amenities through development taxes.
The report shows that in 2017/18, house building was responsible for:
- Supporting 16,700 local jobs
- Delivering over £900m of economic activity, the equivalent of the UK’s problem household debt
- Generating over £64m of tax, the equivalent of employing approximately 2,700 new police constables
- Delivering over £4m of spending on new and improved schools, the equivalent of employing 124 additional teachers, or funding 924 additional primary school places
- An investment of over £1.6m in open spaces, the equivalent of 2,225 hectares of forest