LHT part of major study into Northern economy
Published by Group Communications for Symphony Housing Group in Housing and also in Central Government, Communities, Local Government
‘Housing organisations are worth over £10bn a year to the Northern economy’ - revealed recently in a major study which includes Liverpool based housing provider, Liverpool Housing Trust.
Commissioned by the Northern Housing Consortium, academics at Sheffield Hallam University have conducted a nine month study into the economic impact of the North’s affordable housing sector. Their findings show that:
- Over 116,000 full-time jobs in the North of England are supported by affordable housing providers
- Housing organisations support £10.3bn of output expenditure in the North
- Nearly 700,000 northerners benefit from community work conducted by the housing sector
And there’s good news for the North West – over £4.3bn of the economic impact is felt in the North West, with 39,300 jobs in the region supported by the area’s affordable housing providers.
LHT, part of Symphony Housing Group, supported this research and the study estimates that in 2011/12 LHT:
- supported £109.633 million worth of expenditure (output); £51.454 million directly and £58.178 million indirectly through the intermediate supply chain
- created an estimated GVA of £46,222 million; £10.923 million directly and £35.299 million indirectly through the intermediate supply chain
- supported 1,048 FTE jobs; 271 directly and a further 778 indirectly within the intermediate supply chain.
LHT director of neighbourhood services, Andy Williams said:
“The research shows that in 2011/12 LHT spent £1.761 million on community investment projects, benefiting over 40,000 people. Over 85% of the money we spend stays within the Northern economy. Housing provision and services can have a major positive impact upon local economies and the report serves to illustrate the contribution we make.”
Professor Paul Lawless of the Centre for Regional Economic and Social Research at Sheffield Hallam University, who has led the study commented:
“It’s clear from our findings that affordable housing is big business in the North. The scale and scope of activity conducted by housing organisations would surprise many people. What’s important to note from our study is the additional value created by housing – activities like repairs and construction create big economic impacts which ripple out into the wider northern economy.”
Commenting, Northern Housing Consortium Chief Executive Jo Boaden added:
“This study demonstrates the jobs and value created by affordable housing in the North. But we could do more – our study has shown that for every £1m government invests in housing in the North, we can create 51 additional jobs. Housing organisations already employ as many people in the North as car manufacturing and contact centres combined. The outcomes of this study show that housing organisations really are local engines for growth and are capable of generating and sustaining wider economic growth, if supported and funded appropriately.
“I would like to thank each of our member organisations who contributed the vital information we required to compile a comprehensive evidence base for this study. I would particularly like to thank the seven case study organisations, Durham County Council, Helena Partnerships, Leeds Federated Housing, Liverpool Housing Trust, St Leger Homes of Doncaster, Stockport Homes and Wakefield and District Housing for their valuable involvement.”
A short animation which summarises the findings can be obtained by visiting - http://www.northern-consortium.org.uk/economy
READ NEXT »