Housebuilding industry generates £38bn a year to UK economy

The housebuilding industry is now generating £38bn a year for the UK economy and supporting almost 700,000 jobs, according to the latest research.

A new report from planning and development consultancy Lichfields has revealed that almost £12bn was invested to secure land to deliver new homes.

The report showed that last year the housebuilding industry:

  • supported 698,000 jobs, including 239,000 direct (18% of UK construction industry)
  • generated £2.7bn in tax revenues (via SDLT, corporation tax, NI, PAYE etc)
  • provided £841m towards infrastructure (including £122m for new/improved schools)
  • spent £11.7bn with suppliers (90% of which stays in the UK)
  • invested £12bn in land for new homes
  • agreed 50,000 affordable houses through s106 agreements worth over £4bn

Stewart Baseley, executive chairman at the Home Builders Federation (pictured above), said that the housebuilding industry was a massive driver of the UK economy and made a huge contribution to communities across the country.

“While delivering much-needed new homes of all tenures, housebuilders are quietly creating and sustaining jobs, generating receipts for the exchequer and boosting investment in infrastructure and amenities in villages, towns and cities.

“As well as becoming ever more reliant on private builders to deliver affordable housing through planning agreements, vast sums are ploughed into new roads, schools and community facilities every year.”

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