The Governments Housing Strategy has highlighted the range of steps being taken to increase the supply of new homes, and it has been announced by the Housing Minster that there will be a review of the barriers to investment in rented properties.
The Review, by Sir Adrian Montague will examine how to encourage greater investment in rental homes and increase the supply of affordable homes, thereby supporting the rapid growth of the private rental sector.
Housing Minister Grant Shapps said:
"I’m delighted to announce that Sir Adrian Montague will lead the Private Rented Sector review. The sector has seen several years of strong growth and increasing standards, but in some areas rents have begun to rise faster than wages. Over three million households live in privately rented homes, so it’s vital that we take steps to ensure the sector’s continuing growth and affordability.
"Sir Adrian brings with him a wealth of experience and knowledge of the role of the private sector in boosting infrastructure investment and of housing policy, making him an excellent choice to lead the review."
Sir Adrian said:
"I’m honoured to have been chosen to lead the review into the potential for institutional investment in housing. The private rental sector has gone through a period of rapid growth, and it’s crucial that the Government does all it can to ensure that demand continues to be met. I aim to help remove barriers to investment, contributing to the continuing health of a sector that millions of people rely on."
Today’s Conveyancer, bringing you the latest conveyancing news and updates.