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News: FTBs: Cant Buy - Can Rent?

Tue, 09 Oct 07

The BPF has backed a report published today by Hometrack promoting the private rented sector as having a serious role to play in alleviating the housing crisis...

‘Can’t Buy: Can Rent’ illustrates how affordability for first time buyers continues to deteriorate, highlighting rental as a viable solution.

The BPF has long championed a institutionally run private rental sector run and managed by large firms with the kind of service and quality not delivered by individual ‘buy to let’ investors.

Commenting, Ian Fletcher, Director of Residential Policy at the British Property Federation said:  “This is a timely report which exposes the importance of the private rented sector and how vital it is that the government finds a way to make better use of it to plug the nation’s housing shortage.

"With people unable to afford to buy and often facing years in the queue for social housing a professional, large scale, quality private rented sector could be doing so much to help put a roof over more peoples’ heads.

“For this to happen government needs to adopt a strategic approach to the sector and to recognise that if rents are to remain affordable it too will need to continue to expand.

Government should be seeking to encourage the institutional investment necessary to create a sector that offers longer term lettings in professionally managed properties. At present government does not have a comprehensive strategy for the private rented sector – this report illustrates why it should.”

The report can be accessed here: http://www.hometrack.co.uk/research2007/

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