The answer is yes, house building is a great job generator, but you do also need the manufacturing jobs and investment in plant and machinery, these under pin (pardon the pun) the ability for the economy to generate jobs and grow GDP (gross domestic product).
help to buy scheme
For too long first time buyers have been frozen out of the housing market because there is a disjoint between the average price of a house and the amount of mortgage deposit required which effectively puts it beyond the reach of the first time buyer. In September, for example, the average cost of a house in the UK was £170,733, representing a 6.2% annual rise in prices, the biggest year on year since 2010.
The buy-to-let market in Greater Manchester and other areas of the North West of England is booming thanks to mortgage rates reaching a new historic low in September. The recovery of the UK housing market continues to gather pace as a result – the lack of suitable homes being built for some segments of the population has also contributed to some parts of Britain seeing a boom in the buy-to-let market.