We brought together a mix of people from academic and local government experts to business, construction, housing associations, planners and the NHS in Bournemouth for a Conference on ‘Homes and The Economy’ last week (27 February).
The aim of the Conference was to bring together a range of perspectives and expertise to reach a shared understanding of how housing is fundamental for the economy, business and communities of Dorset to thrive, and to take steps towards finding collaborative solutions.
Key themes emerging from the Conference include:
- The housing market impacts upon productivity through the allocation of capital and the health and availability of the workforce; yet the link between housing and economic growth has been overlooked by successive Governments
- Vision is needed and political decisions can make a difference, nationally and locally.
- Collaboration, a joined-up approach between the public, private and not for profit sectors and the avoidance of siloed thinking between housing, planning and economic development are vital to deliver homes and economic growth.
Commenting on the Conference, Cecilia Bufton, Chair of Dorset LEP Board says:
“Dorset LEP work with partners from all sectors towards prosperity for the Dorset area. Homes for people of all life stages are fundamental to this goal. We hosted this event as a catalyst for collaboration. There were the capabilities and commitment in the room to help change the conversation on housing and an agreement that the availability and affordability of housing are critical for Dorset's economy, businesses and communities.”
A vision for the future?
A vision for the area’s economy, businesses and communities needs the right homes in the right places to support it. Key-note speaker and author of “Housing Economics”, Emeritus Professor of Urban Economics, University of Glasgow, Duncan MacLennan set the conference the challenge of creating a vision for Dorset that sets out how we want to balance "a green, grey or growing economy.”
Endorsing the collaborative objectives of the conference Professor MacLennan said:
“Meeting the productivity challenge requires collaboration with government but also involves the private sector and business talking about these issues. It requires developers to be much more effective at building and for planning departments to be strategic and effective.”
Dorset LEP will continue to amplify these messages and work with partners to articulate a vision and economic strategy for the area that does not ignore the importance of housing for the long-term sustainability of our economy, our businesses and our communities.
Full speaker-presentations from the 'Homes & The Economy' Conference can be viewed here.
ENDS
For more information, media interview opportunities
Please contact: DorsetLEP@bournemouth.ac.uk – FAO. Katie Wilton, Interim Communications Manager or: email: kwilton@bournemouth.ac.uk
Media Interview Opportunities
• Dorset LEP Chair Cecilia Bufton and Executive Director Vinita Nawathe
• Leading academic and author of ‘Housing Economics’ Duncan McLennan Emeritus Professor, University of Glasgow
• Other key-note speakers available on request
Notes to Editors:
About the Dorset LEP ‘Homes & The Economy’ Conference: Who, What & Why
A mix of expert speakers from academia, the public, private and not-for-profit sectors (see below) helped shine a light on the impact of homes on the economy; in a bid to reach a shared understanding and identify solutions.
In Dorset house price affordability, together with rental and shared accommodation availability, the rise of Air BnB and housing being seen as investments rather than homes have an affect on people’s choices of places to live, work, start a business, start a family or retire.
The Dorset economy has grown slower than most of the other LEP areas in the South West and the country as a whole. The number of working age people has flatlined, meanwhile there are record numbers of job vacancies advertised in the area.
Conference delegates shared their experiences of the direct impacts of these issues including that young people are unable to afford to live where they grew up; local businesses difficulties in retaining graduates or to recruit or retain mid-career employees wo might want to raise families. Housing costs or availability compared to other parts of the country were cited as reasons. Speakers also pointed to the well-known relationship between housing and health, and pointed out that healthy people are able to participate in the workforce.
Comparing the UK housing market to Germany, the affect of the housing as investment mindset was considered. Rising house prices and unregulated market rents mean that for individuals and businesses a lot of capital and income is tied up in property and not supporting other parts of the economy. This affects the amount of money available for example for individuals considering starting a business or for established businesses to invest in innovation. It also affects how individuals chose to invest their own money, with property having been the investment of choice for many UK individuals exacerbating the rise in prices. In comparison, in Germany, where renting has been regulated and the norm for most people of all walks of life, individuals are more likely to invest in shares – and often in German companies.
There was a strong willingness of Conference delegates to understand the complexities of the housing situation in Dorset and the country, and to find new and improved ways of working together to find solutions.
Homes & The Economy Conference Speakers & Chairs:
‘Homes as a Key to the Economy – Chaired by Cecilia Bufton, Dorset LEP Chair of the Board.
• Duncan MacLennan, Emeritus Professor, University of Glasgow: Homes and the economy
• Vinita Nawathe, Executive Director, Dorset Local Enterprise Partnership: A Dorset snapshot
Meeting the challenges – Chaired Selena White, Chief Exec Magna Housing & South West Leadership Forum, National Housing Federation
• Paul Read, Director of Sustainability an Investment, Magna Housing Association: Addressing the shortfall in building
• Oliver Burrows, Treehouse Consultancy: Home Ownership and Affordability
• Mike Owen, Chair Cardiff Community Housing Association: Models to increase locally available homes to rent
Public Sector levers – Chaired by Matt Prosser, Chief Executive, Dorset Council
• Andrew Billany, Director of Housing, Dorset Council: Needs and Solutions
• Wendy Lane, Director of Planning and Place, Bournemouth, Christchurch and Poole Council: Planning Foundations
• Paul Britton, South West Regional Programme Manager, One Public Estate, Local Government Association: The role of the Public Sector in unlocking regeneration
About Dorset LEP
Dorset Local Enterprise Partnership (LEP) is a business led private and public sector partnership, promoting local economic growth and prosperity. Dorset LEP deliver projects that support and develop infrastructure, housing, skills, enterprise and business growth to achieve long-term economic benefit for all in Dorset.
For more information visit the Dorset LEP website