The lettings sector faces huge growth, because the private rented sector is the only way to fill the UK’s huge housing needs.
The British Property Federation’s annual conference in London today is calling for action, not rhetoric.
Delegates will debate the ‘massive gulf’ between social housing and home ownership.
The BPF says that despite the housing crash, home ownership remains unaffordable for many who don’t qualify for social housing.
Ian Fletcher, BPF director of policy, called for greater recognition of the private rented sector.
He said: “Political support for it 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.”
Comments
You still cannot see it can you? Our Dear Government do NOT WANT people to own their own houses. Of course there will huge growth in the rented sector, both privately and socially, mind you that assumes anyone can afford to build them in the first place! The dear Government want as many people to rent as possible, that way they can control you even more than they are already! Just remember there is an election coming up so if you want our industry to continue (or those who will be left at any rate) you had better vote for the right party!
-If this really is the case there is a danger as in the late 90's and for a good few years beyond of a lock out to first time buyers. There are then 2 possible scenarios. 1. renters stay in rented until their mid 30s and then buy something modest which will kill the middle market say 350,00 and above in the south 2. huge demand for same raises prices in the bottom sector giving existing second time buyers additional resources thereby lifting prices which will filter up saving baby boomers from retirement disaster. That is pretty well what happened last time but maybe this time the market will not be boosted by high loan to value ratios.