The Hyde Group could deliver a potential £2.2bn benefit to the UK economy, according to an economic report.

The housing associations ambitious house-building programme is committed to building 6,100 homes over the next five years to support the Government's drive to build new homes.

The investment also includes the creation of 1,300 new jobs and 700 apprenticeships in the construction and related industries.

According to an Economic and Social Impact Report by Marshall Regen, the five year programme will also deliver:


• £61m estimated investment in community infrastructure including new community facilities, schools and public open spaces.

• £275m worth of subsidy to provide discounted rented and home ownership options for people in housing need.

• £9m estimated annual investment in jobs for young people through the creation of apprenticeships.

• £5m estimated annual investment in routes into employment.

• £3.3m estimated annual investment to secure progression into employment for 260 trainees.

David Gannicott, Hyde's Group Business Development Director, said: "At Hyde we are committed to building new homes to help tackle the acute housing shortage in London and the South East. We have pledged to build 6,100 homes over the next five years.

"This investment does not just provide people with much-needed new homes, it also has the power to help stimulate the economy whilst reducing the number of unemployed, particularly for the young and unskilled who face the greatest challenge when trying to find work."

(LM/MH)