News

House building delivers huge boost to national economy

24 Jul 2018

New Lichfields research prepared on behalf of the Home Builders Federation (‘HBF’) reveals the significant economic footprint of house building and how the industry contributes to economic growth across the country.

Our new report published today shows that the house building industry in England and Wales is now worth £38bn a year and supports nearly 700,000 jobs. The recent increase in house building activity has helped to deliver a wide range of other economic benefits including £2.7bn in tax revenues and £841m towards new community infrastructure.

It updates previous analysis prepared by Lichfields in 2015 which was the first of its kind to calculate the industry’s economic footprint in a truly holistic way.

We were delighted to be asked by the HBF to update our original 2015 report. We have again identified the very significant economic contribution made by house building. Boosting supply to achieve the Government’s aspiration of 300,000 homes per annum in England will not only help improve access to housing, but also deliver a significant economic and infrastructure dividend.

Matthew Spry, Lichfields Senior Director

The house building industry is a massive driver of the UK economy and makes a huge contribution to communities across the country. The industry is calling on Government to work with it to create the policies that will allow it to deliver the government’s ambition of 300k homes a year in England. Delivering more homes will not only help solve our acute housing crisis, but also provide a further boost to communities and economies up and down the country.

Stewart Baseley, Executive Chairman of the HBF