Portsmouth Booms with Biggest Housing Boost in Five Years
Portsmouth’s economy is firing on all cylinders as new figures reveal the city has smashed its housing delivery targets. The latest City Council development report shows 419 new homes were completed in 2014/15 – the highest total since 2009/10.
Housing Surge Signals Economic Recovery
Councillor Luke Stubbs, Cabinet Member for Planning, Regeneration & Economic Development, hailed the spike as a clear sign the local economy is on the rise. He said, “Construction is a key indicator of how an area’s economy is performing and so it is a positive sign that our figures are on the up.”
Bright Future for Portsmouth’s Regeneration Projects
Stubbs added that the boost in completed housing projects marks a post-recession high for the city. He said, “It’s good news for both residents and businesses and bodes well for our future plans, such as regenerating Tipner and Horsea Island through the City 1 project.”
