BPF rallies for support of rental sector
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The British Property Federation is urging for more vocal political support for the private rented sector as it says the UK is likely to turn to landlords to plug the housing supply gap.
The trade body argues that with home ownership out of reach there will not be enough homes to cater to those who don’t qualify for social housing but who can’t afford to buy.
It wants to see more private rented housing encouraged by councils and by the next government.
Ian Fletcher, director of policy at the BPF, says: “The private rented sector has gained more attention in housing circles, but political support remain worryingly muted.
“That is a pity, because it’s the only way of satisfying housing need for the foreseeable future.
“We need to redouble our efforts to emphasise this is not just about quality renting, but about delivering the housing supply the country needs.”
Andrew Cunningham, chief executive of Grainger, says: “It is now painfully apparent that with new house build levels well below 100,000 units for 2009, the government’s ambitious 2020 target of three million homes is unachievable.
“With the market so credit-dependent, the industry is exploring alternative business models that could engage institutional investors, bring forward developments and ensure the population’s housing needs are met.
“The private rented sector has been a subject on which Grainger has campaigned for some time and it appears that 2010 could be the year that the rhetoric might finally become a reality.”
The BPF is holding its annual housing conference today in London.
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