Rising rents and house prices are hitting economic growth by making it difficult to recruit, warn companies.
Nearly four in five employers questioned across England believe that a lack of affordable housing is stalling economic growth in local communities, the National Housing Federation found.
This comes as prices in areas like London soar above pre crash levels - pricing many people out of the market.
Some 79% of more than 1,000 managers surveyed said that building more homes would stimulate the local economy and 72% thought it would encourage more customers into their area.
Around 78% of managers also agreed that house prices are a "problem" in their local area and 58% said building more homes would help staff recruitment and retention.
National Housing Federation director Gill Payne said: "Our economic recovery is being held back because there aren't enough homes in England today, and this lack of homes has pushed up prices and rents beyond people's reach.
"As a result, businesses are finding it tough to attract workers and expand because many people can't buy a home or would struggle to pay high rents. If things don't change, employers will simply move - potentially out of the country - taking away desperately needed jobs."
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