home truths 2013/14: east midlands
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8/12/2019 Home Truths 2013/14: East Midlands
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East Midlands
home truthsthe housing market inthe East Midlands
2013/14
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8/12/2019 Home Truths 2013/14: East Midlands
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England appears to be emerging from recession,but the recovery is distorted. Parts of the countryare experiencing growth and in some places thelocal housing market is overstretched and isstarting to overheat. Meanwhile other areas are
at a relative standstill with little or no economicgrowth. Economic recovery is not reachingeveryone in the East Midlands.
The East Midlands was one of the English regions with thelowest number of new homes built during 2012/13. Less than
half (49%) of the new homes needed are being built eachyear1,2, pushing up the regions house prices and rents.
The average East Midlands home costs over eight times theaverage local wage3,4 and is expected to cost 212,300 by 2020 a rise of more than 25%5.
More people are being forced into the private rented sector,
but the East Midlands is also expecting the second largest risein rents of any English region up 45% by 20205.
With comparatively low wages in the East Midlands 20,0364
on average housing costs are increasingly unaffordable.Since 2009 the region has reported a 93% rise in housingbenefit claims by working people6.
A distortedeconomicrecovery
2 | #hometruths14
Only 49% of the newhomes needed in the
East Midlands arecurrently being built,pushing up houseprices and rents.
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8/12/2019 Home Truths 2013/14: East Midlands
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EAST MIDLANDS | 3
Across the North East just over half (54%) of the new homesneeded are actually being built each year. This is storing upmore problems for the future. The average North East homealready costs more than seven times the average income,pushing more people into the private rented sector. Yet privaterents are also unaffordable for many and are predicted to rise by30% by 2021.
Between 2011 and 2013 the East Midlands hasseen a 2.8% increase in new businesses7 butunemployment remains a problem with 180,500people (6.5% of the regions working agepopulation) out of work in 2012/138.
Young professionals and families are struggling to afford ahome of their own and there is not enough suitable housing forthe regions growing older population. In rural parts of the EastMidlands, households led by under-35s are expected to rise by9% between 2011 and 2021, while households led by people aged65 and over are predicted to rise by 27%1.
Building more homes in the East Midlands would give the localeconomy a major boost. Every new home built brings 69,045into the East Midlands and creates 1.6 jobs directly and in thewider regional economy9. Nearly 80% of businesses surveyedacross the country said a lack of affordable housing is stallinglocal economic growth and 70% warned it would affect their
ability to attract and keep workers10.
We need local people who want more housing to contact localcouncillors and say "Yes to Homes" (www.yestohomes.co.uk).
More homeswould kick
start theEast Midlands
economy
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8/12/2019 Home Truths 2013/14: East Midlands
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Government must invest in building more homeswhere they are needed, and at prices thateveryone can afford. Rising rents and houseprices, as well as higher levels of unemploymentand low or stagnant wages, mean more and more
people need help with their housing costs.
Housing benefit currently costs taxpayers 24bn a year andmost of it goes to private landlords rather than towardsbuilding new homes6. For a fraction of that, the Governmentcould support areas experiencing economic growth by buildingmore affordable homes.
In areas where high housing costs could be stalling economicgrowth and creating problems for employers, Local EnterprisePartnerships working with local authorities, housingassociations and others must take a strategic lead on gettingmore homes built, revitalising communities and creating jobs.
Housing associations are in it for the long term. With moresupport, they can be real catalysts for change for localcommunities and help drive forward a balanced economicrecovery for the East Midlands.
The solution
4 | #hometruths14
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8/12/2019 Home Truths 2013/14: East Midlands
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EAST MIDLANDS | 5
Across the North East just over half (54%) of the new homesneeded are actually being built each year. This is storing upmore problems for the future. The average North East homealready costs more than seven times the average income,pushing more people into the private rented sector. Yet privaterents are also unaffordable for many and are predicted to rise by30% by 2021.
The evidence
! Across the East Midlands, 18,753 new households areexpected to form each year between 2013 and 20211.
! In 2012/13 9,160 new homes were completed in the region 1,350 by housing associations2.
! Private rents are expected to rise by 45% in the EastMidlands by 20205. Gedling and Rutland have seen rises of7% and 10% respectively over the last four years, withfurther increases of 44% and 42% predicted by 20205.
! The average house price in the region in 2012 was 162,693 59% higher than the average for 20023.
! The East Midlands has seen a 93% increase in workingpeople claiming housing benefit since 20096.
! Every new home built in the East Midlands adds 69,045 to
the regional economy
9
.! Every new home built in the region creates 1.6 jobs directly
and in the wider regional economy9.
Sources:1 Household population projections by district, England, 1991-2021, interim 2011-based
Department for Communities and Local Government (DCLG) April 20132 Live Table 253, Permanent dwellings started and completed, by tenure and district
DCLG 2012/133 Simple average house prices Land Registry data4 Annual Survey of Hours and Earnings (ASHE) Office for National Statistics (ONS) 2012
provisional results5 Projections for the National Housing Federation Oxford Economics 20136 Housing benefit statistics (Stat-Xplore) Department for Work and Pensions (DWP)7 Inter Departmental Business Register (IDBR) ONS 20138 Model-based estimates of unemployment ONS (Crown Copyright Reserved)9 Economic impact database, Centre for Economics and Business Research (CEBR)
for National Housing Federation10 Survey for National Housing Federation ComRes 2013
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Average (mean)weekly private
sector rents20121
Average (mean)house prices
20122
Average(median)
incomes 20123
Ratio of houseprices to
incomes2,3
Households onwaiting list
20124
East Midlands
ENGLAND
East Midlands
Derby UA
Leicester UA
Nottingham UA
Rutland UA
Derbyshire
Amber Valley
Bolsover
ChesterfieldDerbyshire Dales
Erewash
High Peak
North East Derbyshire
South Derbyshire
Leicestershire
Blaby
Charnwood
Harborough
Hinckley and Bosworth
Melton
North West Leicestershire
Oadby and Wigston
Lincolnshire
Boston
East Lindsey
Lincoln
North Kesteven
South Holland
South Kesteven
West LindseyNorthamptonshire
Corby
Daventry
East Northamptonshire
Kettering
Northampton
South Northamptonshire
Wellingborough
Nottinghamshire
Ashfield
BassetlawBroxtowe
Gedling
Mansfield
Newark and Sherwood
Rushcliffe
162.69
120.23
108.69
111.46
113.08
157.38
119.77
116.08
108.46
110.08139.38
116.31
117.69
123.69
134.77
128.54
140.08
122.77
141.00
122.77
132.23
129.23
134.08
115.62
119.54
104.08
107.54
127.62
118.38
128.31
109.85130.85
119.08
144.69
138.00
121.85
129.69
169.38
122.08
119.08
110.77
109.15124.38
123.23
111.92
116.54
144.69
242,535
162,693
141,701
137,594
119,066
267,602
161,776
158,663
109,181
135,781244,597
139,882
172,117
162,962
175,648
184,131
175,137
181,832
230,325
169,675
201,531
164,268
164,780
153,679
134,660
147,018
130,438
165,018
150,135
177,540
149,503179,313
135,502
225,837
184,911
158,397
161,075
248,284
160,226
155,921
120,993
139,196150,631
151,620
113,730
167,612
224,496
21,429
20,036
21,445
17,779
18,330
22,672
20,836
20,233
18,403
18,75621,512
20,977
21,892
21,856
21,533
20,784
22,589
20,368
22,287
20,582
17,987
20,613
20,348
18,933
16,032
17,196
17,566
19,906
20,764
20,337
19,13120,701
19,443
24,684
21,554
21,024
19,609
21,523
19,838
20,145
18,470
19,85423,582
21,086
16,786
18,798
24,981
11.3
8.1
6.6
7.7
6.5
11.8
7.8
7.8
5.9
7.211.4
6.7
7.9
7.5
8.2
8.9
7.8
8.9
10.3
8.2
11.2
8.0
8.1
8.1
8.4
8.5
7.4
8.3
7.2
8.7
7.88.7
7.0
9.1
8.6
7.5
8.2
11.5
8.1
7.7
6.6
7.06.4
7.2
6.8
8.9
9.0
1,851,426
121,452
6,632
7,707
12,067
401
21,888
2,893
1,995
2,1373,202
2,730
5,171
2,203
1,557
10,324
1,482
2,626
1,545
1,515
848
808
1,500
19,344
2,042
6,133
2,748
1,384
2,393
3,696
94820,480
2,603
2,051
1,190
2,377
7,601
1,801
2,857
22,609
3,235
3,8562,254
2,220
4,402
5,367
1,275
Footnotes to tables
1 Private Rental Market Statistics Valuation Office Agency (VOA), year to March 2012
2 Land Registry sales data 20123 Annual Survey of Hours and Earnings (ASHE), Office for National Statistics (ONS) 2012
4 Live Tables Department for Communities and Local Government (DCLG)
5 New build completions data HCA 2012/13
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8/12/2019 Home Truths 2013/14: East Midlands
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Homelessacceptances
2012/134
All new HAhomes
completed withHCA funding
2012/135
Total HArented homes
20136
Total LA rentedhomes 20134
Unemploymentrate 2012/137
HA supportedhousing 20136
% increase inworking
housing benefitrecipients
August 2009 to
August 20138
50,241
3,415
169
93
481
-
354
61
-
8032
45
41
19
76
267
1
164
25
-
38
39
-
588
13
110
199
33
23
180
30963
30
27
52
48
626
51
129
500
26
7510
56
180
119
34
26,547
1,350
98
38
7
17
225
22
20
092
0
0
14
77
125
16
49
0
14
7
39
0
374
20
80
61
106
54
41
12458
78
22
0
114
188
16
40
8
0
00
8
0
0
0
2,392,124
131,993
7,547
10,419
9,730
1,754
22,632
7,017
1,028
1,4103,897
6,488
1,099
797
896
13,141
3,088
2,752
2,981
1,620
608
1,559
533
22,481
5,286
6,982
1,694
1,137
934
1,828
4,62026,637
1,036
4,697
4,965
1,993
4,125
3,849
5,972
17,652
1,847
1,1981,138
5,048
2,313
2,084
4,024
1,681,782
183,539
13,491
22,139
27,636
1
30,174
4
5,293
9,6470
2
4,089
8,115
3,024
16,841
0
5,823
0
3,414
1,878
4,464
1,262
21,867
0
0
7,905
3,832
3,917
6,209
420,670
4,837
0
0
3,784
12,047
2
0
30,720
6,876
6,9184,631
222
6,575
5,465
33
6.4%
6.5%
8.1%
9.9%
10.3%
2.9%
5.4%
5.5%
5.4%
6.4%3.5%
6.0%
5.6%
5.2%
4.6%
4.8%
4.5%
5.0%
3.4%
5.1%
4.0%
5.7%
5.7%
6.0%
5.5%
6.3%
7.6%
4.8%
5.6%
5.2%
6.6%6.3%
7.9%
4.7%
5.8%
6.5%
7.2%
3.1%
7.5%
6.1%
7.6%
6.3%5.8%
6.9%
6.4%
5.8%
4.1%
412,250
32,507
2,028
1,740
3,230
531
7,637
2,646
304
6361,390
1,971
389
181
120
3,673
1,394
508
1,051
190
146
242
142
3,922
1,103
1,142
477
208
75
436
4815,046
93
1,036
1,150
248
787
1,064
668
4,700
427
388172
1,349
419
516
1,429
96%
93%
85%
97%
28%
52%
82%
78%
76%
68%85%
106%
58%
104%
98%
102%
97%
108%
101%
79%
87%
100%
174%
122%
152%
72%
111%
-
130%
84%
73%108%
164%
123%
65%
114%
109%
103%
88%
97%
136%
98%82%
83%
97%
67%
123%
6 Statistical Data Return - Homes and Communities Agency (HCA) 2013
7 Model based estimates of unemployment ONS 2012/13
8 Housing benefit statistics (Stat-Xplore) Department for Work and Pensions (DWP)
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8/12/2019 Home Truths 2013/14: East Midlands
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The National Housing Federation is the voiceof affordable housing in England. We believethat everyone should have the home theyneed at a price they can afford. Thats why we
represent the work of housing associationsand campaign for better housing.
Our members provide two and a half millionhomes for more than five million people.And each year they invest in a diverse rangeof neighbourhood projects that help createstrong, vibrant communities.
Further information:National Housing Federation (Bristol)Tel: 0117 929 7388bristoloffice@housing.org.uk
National Housing FederationLion Court25 Procter StreetLondon WC1V 6NY
Tel: 020 7067 1010
www.housing.org.ukwww.yestohomes.co.uk
Find us or follow us on: #hometruths14
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