Housing Associations and Local Economic Growth - NHF Perspective

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Presentation Description

Simon Nunn, Assistant Director - Midlands and South West - for the National Housing Federation presents to SWO Housing, Planning and the Economy event, held at UWE, Bristol on Tuesday 26 February 2013.

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Presentation Transcript

PowerPoint Presentation:

Simon Nunn, Assistant Director, Midlands & South West Housing Associations & Local Economic Growth

Housing & Economic Context:

Housing & Economic Context Housing market has stagnated New build has stalled - the South West is building less than 60% of the homes it needs SW ratio of houses prices to incomes varies from 7.6 in S windon to 20 in Cotswold (11.5 average) Government subsidy for affordable housing cut by over 60% in the last spending round Policy changes included shorter tenancies & introduction of affordable rent products Welfare reform will impact heavily on tenants , landlords and communities

Localism – an emerging landscape:

Localism – an emerging landscape Dismantling of regional structures and plans Emergence of LEPs Heseltine Review The Birmingham project Potential for single pot funding

Housing Associations: :

Housing Associations: Are significant local businesses in their own right Build, maintain & manage extensive housing stock Are in it for the long term Are major players in new build and regeneration which stimulates & boosts economic growth Have well developed apprenticeship schemes S upport local businesses and social enterprises through their supply chain Work extensively in t he green economy Operate in the areas where jobs are needed most, can reach the parts that other businesses cannot reach

Housing Associations in the South West ……:

Housing Associations in the South West …… O wn, manage & maintain over 213,000 homes, 1 in 10 households Add £931.3m to the regional economy and support 17,725 jobs, over 10,000 directly H ave a turnover of £1.13bn Contribute over 25% of all new house building in the SW Have current development programmes for 8,808 new homes (2011-2015), adding almost £681m to the regional economy and supporting 15,646 jobs Under the current Affordable Homes Programme match every £1 of public subsidy with £6 from their own resources

Local economies should seek to maximise affordable house building because: :

Local economies should seek to maximise affordable house building because: Housing shortage is a barrier to sustainable economic and employment growth Rising housing costs, especially PRS, means less money spent in local economies – UK 3 rd from bottom in Europe in housing affordability The multipliers are pretty good

Investing £1 in affordable housing puts £2.40 into the wider UK economy:

Investing £1 in affordable housing puts £2.40 into the wider UK economy Total GVA multipliers, Comparison with composite industries and offshore wind investment. Source CEBR

Total employment multipliers :

Total employment multipliers

Growing the SW economy - The Housing Association Challenge:

Growing the SW economy - The Housing Association Challenge Local labour – too often skills not available in the SW Procurement – how can we better support local business? Social Enterprise – sustainable employment Diversification Improving the local housing offer – especially market rent How can we help attract more institutional investment?

Questions:

Q uestions Housing development can drive growth –but it is also about need Can we really free up enough publicly owned brownfield land? Certainty over capital investment post 2015 Need for effective cross boundary planning and cooperation – combined authorities? Single pot investment pilots Welfare reform Nimbyism and the need for political leadershi p

PowerPoint Presentation:

Simon Nunn, Assistant Director, Midlands & South West Simon.nunn@housing.org.uk

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