A new report released today by the Home Builders Federation (HBF) shows the extent to which the housebuilding community contributes to the overall UK economy. The Economic Footprint of UK House Building report, compiled for HBF by Nathaniel Lichfield and Partners unveils that the industry is worth £19.2bn to the economy and in the last year provided 600,000 jobs.
The full weight of the houesbuilding community's contribution is outlined in the infographic* above, clearly highlighting the importance of the sector, not only in economic terms but also its wider, positive, societal impact.
- Spending £5.5bn with suppliers, 90% of which stays in the UK
- Generating £1.4bn per year in tax revenues for the Exchequer
- Providing 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
- Paying £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.
- Generating a £3.8bn spend in local shops and services
- Planting an estimated 5M trees and shrubs
- Recycling around 80% of its waste
"As we approach this important election in May, it is right that such statistics are brought to the fore and that the industry be recognised for its contribution to the UK economy. The demand for homes continues to grow and we need to support this industry to ensure those needs can be met.
"Often communities do not realise the extent of the contribution made by housebuilders in their local area and beyond. It is important for our property clients that they can continue to deliver both the neccessary homes at the rate required but also to be seen as a positive force within local communities."
Remarkable Group Chief Executive, Stephen Pomeroy
* Infographic provided courtesy of HBF