Home building has delivered billions of pounds of investment in the West Midlands and generated 75,000 jobs, new research shows.
Lagan Homes’ Anchor Wharf development, located in Polesworth, delivers 24 open market residences and 16 affordable homes under the Discount Market Sale scheme. Anchor Wharf embraces diversity, ensuring a vibrant and cohesive community. Its unique blend of housing options fosters an environment where everyone feels at home, further supporting the Polesworth community.
Research from the Home Builders Federation (HBF) finds that the 21,790 homes built in the West Midlands during 2023-24 delivered meaningful economic and social improvements, strengthening communities and encouraging investment in the area.
The research has been released as part of New Homes Week, taking place between 3 and 9 February 2025. From building schools and hospitals to creating parks, green spaces, and leisure facilities, home builders are integral to the growth and investment of communities up and down the country. With each new home delivered, builders make Section 106 contributions to the local council to support local infrastructure for new and existing residents.
Understanding the Numbers
The research finds that housing delivery in the West Midlands has supported:
- £1 billion for affordable housing, addressing local demand and contributing to economic productivity.
- £600 million in spending in local shops, bolstering the region’s retail and service sectors.
- £136 million for infrastructure, including over £60 million for new and improved schools, funding 4,000 school places.
- £19 million for open spaces, enabling the creation of 22 sports halls and other community facilities.
- Over £4.8 billion in local economic activity, supporting 75,000 jobs across the region.
Anchor Wharf Case Study
With 24 open market residences and 16 affordable homes under the Discount Market Sale scheme, Anchor Wharf embraces diversity, ensuring a vibrant and cohesive community. Its unique blend of housing options fosters an environment where everyone feels at home.
The success of the DMS scheme, highlights a gap in the market for affordable homeownership. The proactive approach to addressing this need, demonstrates the importance of understanding and responding to market demands.
With a selection of bungalows within the development, Anchor Wharf caters not only to first-time buyers but downsizers and individuals with reduced mobility alike. This inclusive approach ensures that individuals from all walks of life can find a comfortable and suitable home within the community, The commitment to promoting sustainability, affordability, and inclusivity in equal measure is a testament to meeting the diverse needs of homeowners.
As part of the Section 106 agreement, Lagan Homes has made significant contributions to the local community, demonstrating a commitment to enhancing the area’s infrastructure and amenities. These contributions include £52,000 towards community facilities, and a further £25,983 for public rights of way improvements, healthcare facilities, and the public library.
Lastly, the commitment to sustainable design not only benefits the environment but also future proofs the development, setting a precedent for sustainable living in the residential sector.
Andrew Collinson, Principal Development Control Officer, North Warwickshire Council, said: “The Discount Market Housing Scheme (DMS) at Anchor Wharf is providing opportunities for a number of residents from the Borough to step onto the housing ladder and up the ladder. The DMS is proving very popular with first-time buyers where there is a bigger discount (30%). The provision of bungalows was also hugely popular and shows the growing need for bungalows for our aging population. The scheme provided a different opportunity for “affordable” housing across the market. Lagan Homes have been very pro-active in supporting the Council in publishing the scheme and working with us to ensure the scheme works well.”
Neil Jefferson, Chief Executive of the Home Builders Federation said: “Home building boosts employment and stimulates local spending on amenities, while also directly funding community facilities. Yet, many people are unaware the significant investment developers make to fund amenities like community centres, school places, or green spaces.
“Our research outlines the social and economic impact of development within the West Midlands. As we continue to build homes local areas need, we must communicate the extent of these contributions to the public, so residents can recognise the benefits.”
Zac, resident, said: “We are first-time buyers and have been on the lookout for a house for quite some time. In the current market, we were unsure whether we could afford to buy, but when we read about the Discounted Market Sale homes available, we thought it was a no brainer!”