'PRS crucial to resolving UK's housing crisis'
Published by Max Salsbury for 24dash.com in Housing
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The property industry will today hear how the private rented sector is crucial to resolving the UK's housing crisis.
Delegates at the British Property Federation’s annual residential conference will hear shadow Planning Minister Roberta Blackman-Woods explain Labour’s commitment to supporting a well-managed and sustainable large scale PRS as part of its strategy for overcoming the housing crisis.
Research commissioned by the BPF has revealed that progression in the ‘build to rent’ sector over the past year has been significant, with 8% of all new build property in the capital built for the rental market.
Speaking ahead of her keynote speech, Blackman Woods MP said: “With the country in the midst of the biggest housing crisis in a generation, we desperately need to build more homes. Labour is determined to tackle this crisis and we have committed to increasing housebuilding to 200,000 homes a year by 2020.”
“Crucial to building more homes is recognising that we need to build more homes of all tenures. The private rented sector already plays an important role in meeting the UK’s housing needs but it can do much more.
“For the private rented sector to play an increasingly important role we need to ensure that the conditions are right to attract the long-term investment that the sector needs. We also need to ensure that the sector is one of choice and ready to meet the needs of those living in it now and in the future, who do not want or currently cannot buy their own home.
“That’s why Labour has set out plans to reform the private rented sector. If the private rented sector is to be one of choice it must meet the needs of those living in it not least the 1.3 million families with children.”
Paul Tennant, chief executive of Orbit Group, added: “The BPF conference provides an opportunity for the housing sector to commit to viable, long-term solutions to meet housing need in this country. We know we must build more homes, but meeting housing need goes far beyond this. We should be focusing on providing choice and a housing journey which enables people to fulfil their aspirations. My hope is that we will see a commitment to that approach.”