Supporting Dorset’s Economic Growth - Future Housing Provision
In the same week that the UK government has announced its ambitious proposals to help fix the UK’s housing market, Dorset Local Enterprise Partnership (LEP) today launches an independent study into future housing provision in Dorset.
Set against the backdrop of the housing white paper released earlier this week, Dorset LEP’s study ‘Supporting Dorset’s Economic Growth – Future Housing Provision’ investigates housing provision, key Issues and future options from a local perspective. The report outlines a number of recommendations to help accelerate housing delivery across Dorset such as greater public sector intervention, promoting the private rented sector and increasing the capacity of the construction industry.
Download Dorset LEP’s report ‘Support Dorset’s Economic Growth – Future Housing Provision’.
The provision of housing is an important enabler of local economic growth by helping to attract and retain a skilled workforce. Dorset’s economic growth relies on being able to provide housing across the full price range and of different size and type. However, housing affordability and availability continue to act as key barriers for local employers.
House prices in Dorset are exceptionally high in proportion to wages. In a recent study the town of Bournemouth was found to be one of the least affordable places to live in the world, with the price of a home ranking 8.9 times higher than the median annual household income of the area.
Responding to these challenges, Dorset LEP commissioned an independent study to conduct further investigation into housing provision in Dorset and to help identify opportunities both for funding and accelerating delivery.
This is in line with one of the LEP’s strategic priorities in helping to better understand the impact of housing on growth potential in Dorset.
Dorset LEP board member Andrea Smith, who sits on the Dorset LEP Housing Sub-group, said: “We were really interested in looking at the links between housing and economic growth, particularly its effect on attracting and retaining staff. We hope this study and the opportunities described by the government's white paper this week, will enable developers, planners, land owners and policy holders to work together with the LEP to achieve Dorset’s vision for a sufficient supply of affordable housing. “
Notes to Editors:
Dorset Local Enterprise Partnership is a business led private and public sector partnership that aims to promote local economic growth and prosperity. Acting as a strategic gateway to funding, Dorset LEP supports and delivers projects of long term economic benefit for all in Dorset through cross sector partnership
For more information visit Dorset LEP http://dorsetlep.co.uk/governance/sub-groups/housing-group/