Housing and Economic Development: Moving Forward Together, a report from the Housing Corporation and Centre for Cities, looks at the role of housing policy in both promoting economic growth and regenerating more deprived urban areas, in the lead up to the creation of the Homes and Communities Agency in December.
- With the Government’s 3 million new homes by 2020 target looking increasingly unrealistic, ensuring the new Homes and Communities Agency coordinates the building of the ‘right homes in the right places’ (in terms of quality, tenure, form and location) will be even more important if new housing is to have a positive impact on the economy.
- This report highlights the crucial role housing plays in driving economic growth and regeneration. Too often investment takes place in isolation from the wider economic context. The report suggests practical ways in which the new Homes and Communities Agency can implement a more integrated response to housing and economic development – through opening a ‘single conversation’ – to ensure future housing investment maximises its economic impact.
- As the Sub-National Review (SNR) is implemented and the Regeneration Framework (RF) undergoes consultation, ensuring a better understanding of how housing, regeneration and economic development policy can be better integrated will be crucial. The SNR prioritises areas for growth and the RF prioritises areas for regeneration – but these two policy areas should not be treated as separate agendas.