More new homes 'would boost the economy'
1st May 2012
The construction of more new homes in the UK would help to boost the economy as well as the housing sector, one organisation has noted.
Steve Turner, head of communications at the Home Builders Federation (HBF), made the comments following the announcement that approvals for new homes in the UK have increased.
The Department for Communities and Local Government reported that, in the period of October to December 2011, authorities undertaking district level planning in England received 111,500 applications for planning permission.
This is an increase of one per cent compared with the corresponding quarter in 2010, with a total of 88,700 permissions granted overall.
Ms Turner noted that house building and construction as a whole is one of the most significant employers in the UK and so efforts need to be made to further stimulate the market to boost the country as a whole.
If a way can be found to build the number of homes that is needed, then the knock-on effect will be that the economy will get a significant boost, he noted.
"Every home built creates 1.5 direct jobs plus twice that number in the supply chain, so there is a clear positive from building these much-needed homes economically," the expert commented.
Posted by Staff Writer: Frances McDonald
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