The necessary volume of housing will “never be achieved” in the UK without significant investment in the private rented sector, according to the housing and planning minister.
Minister of State Gavin Barwell, appointed to the housing role by Theresa May in July, says there should be a focus on building homes “of every single type” in order to deliver the country’s housing ambitions.
“We need to make sure we have a good, thriving private rented sector”, Barwell said, speaking at Property Week’s RESI 2016 conference.
“Recent growth in the bespoke rental market has been impressive, but this progress must be expanded,” he added.
The MP for Croydon Central said the build to rent sector will prove increasingly important as more individuals and families choose to rent.
Barwell praised Essential Living’s Vantage Point scheme in Archway north London, where 118 homes have been built and are now open for lettings.
He also mentioned Pocket Living’s development in Lambeth for its innovative use of modular construction.