England would get a shot in the arm of £3.6 billion and 71,000 full-time jobs would be created or sustained if more affordable homes were built now to help tackle the housing crisis, according to the National Housing Federation.
Experts have warned that the nation needs to build 78,500 affordable homes per year to keep pace with demand, yet last year less than a quarter of this amount were built - 20,000. Building more affordable homes would also help the 1.37 million households stranded on waiting lists for affordable housing across the country.
The South West alone would benefit from an annual cash injection of £256million if enough affordable homes were built to meet the area’s demand. Building more affordable homes in the South West would also support more than 5,400 jobs by creating new employment opportunities and keeping people in work.
David Orr, Chief Executive at the National Housing Federation said: “There are simply not enough affordable homes being built; people across the country are struggling to find the homes they need at a price they can afford. Not building the homes we’re going to need represents a failing of generations to come, and a missed opportunity today.
“These numbers show that new homes are more than just roofs over heads; they bring wealth to local areas and improve job prospects. That’s why we’re asking that politicians commit to ending the housing crisis within a generation by building more homes now.”
GreenSquare, along with the National Housing Federation, is part of the Homes for Britain campaign, which is calling on the next government to end the housing crisis within a generation. For more information and to show your support for the campaign, please click here.