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10 February 2015, 06:00
It is claimed a shortage of affordable homes in Herts, Beds, Bucks and Northants is having a damaging affect on our economy
The National Housing Federation says the East of England is losing out on £450 million and more than 9,000 full time jobs because of the housing crisis.
Experts have warned that the region needs to build 8,800 affordable homes per year to keep pace with demand. Last year 2,480 were built which is around a quarter of the number they say is needed.
Across England as a whole the federation says we need to build 78,500 affordable homes each year. This would directly contribute £3.6 billion to the economy and support over 71,000 full-time jobs. It would also help the 1.37 million households stranded on waiting lists for affordable housing.
Area (Local Enterprise Partnership)
New affordable homes needed per year - 1,595
Direct contribution to local economy - £82,415,943
Full-time jobs - 1,682
New affordable homes needed per year - 803
Direct contribution to local economy - £29,990,185
Full time jobs - 650
South East Midlands (including Bedfordshire)
New affordable homes needed per year - 2,484
Direct contribution to local economy - £128,351,851
Full time jobs - 2,619
Thames Valley including Buckinghamshire
New affordable homes needed per year - 427
Direct contribution to local economy - £21 million
Full time jobs - 650
Claire Astbury, External Affairs Manager for the East of England at the National Housing Federation said: "There are simply not enough affordable homes being built in the East of England; people across the region are struggling to find the homes they need at a price they can afford. Not building the homes we're going to need represents a failing of generations to come, and a missed opportunity today.
"The numbers show that new homes are more than roofs over heads; they bring wealth to local areas and improve job prospects. That's why we're asking that politicians commit to ending the housing crisis within a generation by building more homes now."
The National Housing Federation is part of the Homes for Britain campaign which is calling on the next government to end the housing crisis within a generation. For the first time the entire housing sector, ranging from housing associations and architects to private developers, planners and architects, are jointly calling on the next government to publish a year-long plan within a year of taking office outlining how they will tackle the housing crisis over the next 25 years.