The CBI’s new paper All For Affordable calls on government to step up investment in affordable homes to support communities and businesses all around the country.
Why affordable housing is important for businesses
Affordable housing plays a critical role in the success of the economy. Not just as a significant part of government spending that creates jobs and training; high-quality, safe and sustainable homes increase the wellbeing of their tenants or owners, underpinning prosperous, vibrant communities in all regions of the country.
The government knows that the demand for affordable homes is great. But solving it matters just as much to businesses: without communities of diverse housing stock and tenure types within a reasonable proximity to workplaces and offices, talented and productive staff are harder to attract and harder to retain. If homes are also unaffordable relatively to local economies, businesses can find their staff – and customers – priced out of the areas in which they operate.
This has been a growing problem: for first-time buyers, the cost of a deposit required to buy a home is now
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