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The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?

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  • Stephen Boyle
  • Kevin Connolly
  • Peter G McGregor
  • Mairi Spowage

Abstract

While investment in social housing is mentioned in the Government’s white paper on levelling up, it does not receive the emphasis extended to infrastructure investment. Traditionally, the case for affordable housing was based on merit goods arguments. While the economic effects of housing have been explored, this has mainly been through traditional economic impact studies whose perceived weakness has led to a degree of policy scepticism around the findings of such studies. Recently, however, a strong case has been made for treating investment in housing on a comparable basis to infrastructure on the basis of its potentially important impacts on the supply side, stimulating labour supply and productivity. The purpose of this paper is to evaluate the potential economic impacts of meeting the projections of affordable housing needed in Scotland to combat homelessness using a framework that overcomes the weaknesses of conventional impact analyses.

Suggested Citation

  • Stephen Boyle & Kevin Connolly & Peter G McGregor & Mairi Spowage, 2022. "The regional macroeconomic impact of projected affordable housing developments: Facilitating the ‘levelling up’ Agenda?," Local Economy, London South Bank University, vol. 37(5), pages 384-402, August.
    • Handle: RePEc:sae:loceco:v:37:y:2022:i:5:p:384-402
    DOI: 10.1177/02690942221130022
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    References listed on IDEAS

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    3. Shoven,John B. & Whalley,John, 1992. "Applying General Equilibrium," Cambridge Books, Cambridge University Press, number 9780521266550.
    4. Leung, Charles, 2004. "Macroeconomics and housing: a review of the literature," Journal of Housing Economics, Elsevier, vol. 13(4), pages 249-267, December.
    5. Maureen Crane & Kathleen Byrne & Ruby Fu & Bryan Lipmann & Frances Mirabelli & Alice Rota-Bartelink & Maureen Ryan & Robert Shea & Hope Watt & Anthony M. Warnes, 2005. "The Causes of Homelessness in Later Life: Findings From a 3-Nation Study," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 60(3), pages 152-159.
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