Menu
23/08/2012
Sir Adrian Encourages Greater Investment In Build-To-Let
Measures aimed at boosting professional investment in good quality, privately rented homes and to help meet the nation's housing demand are published today.
Housing Minister Grant Shapps welcomed the report by Sir Adrian Montague, saying it offered, "a blueprint" for encouraging more institutional investment into the sector.
The vast majority of private-rented homes in this country are managed by individual landlords.
But Sir Adrian's report highlights the "real potential" for investment in large-scale development of homes built specifically for private rent by professional organisations.
The report finds that a combination of recent tax changes and wider market conditions have cleared the way for this sector to grow.
Sir Adrian's report makes a series of recommendations to speed up the timescale for building the private-rented homes needed to meet existing and growing demand. These include:
•That councils use flexibilities in the planning system to plan for and enable developments of privately rented homes where they can meet local need. This could include waiving affordable housing requirements on new developments of homes specifically for private rent, or reviewing stalled sites to see whether some of the new homes planned could be made available to rent rather than sell;
•That a task force be set up to encourage and support build-to-let investment from the private sector, and to develop voluntary standards that future landlords would meet and tenants could expect;
•That the Government look to provide a number of targeted incentives to encourage the development of Build-to-Let business models, which could include sharing development risk in the short-term to get spades in the ground and building started;
•That the Government allocate some of the redundant, formerly used public sector land and buildings being released for housebuilding to build-to-let development, and publish data on how this is done; and
•That the Government work with councils and the Greater London Authority to identify a number of sites where there is good demand for rental housing and make them available to developers on the grounds that a proportion of the homes built be let out to tenants.
(CD)
Housing Minister Grant Shapps welcomed the report by Sir Adrian Montague, saying it offered, "a blueprint" for encouraging more institutional investment into the sector.
The vast majority of private-rented homes in this country are managed by individual landlords.
But Sir Adrian's report highlights the "real potential" for investment in large-scale development of homes built specifically for private rent by professional organisations.
The report finds that a combination of recent tax changes and wider market conditions have cleared the way for this sector to grow.
Sir Adrian's report makes a series of recommendations to speed up the timescale for building the private-rented homes needed to meet existing and growing demand. These include:
•That councils use flexibilities in the planning system to plan for and enable developments of privately rented homes where they can meet local need. This could include waiving affordable housing requirements on new developments of homes specifically for private rent, or reviewing stalled sites to see whether some of the new homes planned could be made available to rent rather than sell;
•That a task force be set up to encourage and support build-to-let investment from the private sector, and to develop voluntary standards that future landlords would meet and tenants could expect;
•That the Government look to provide a number of targeted incentives to encourage the development of Build-to-Let business models, which could include sharing development risk in the short-term to get spades in the ground and building started;
•That the Government allocate some of the redundant, formerly used public sector land and buildings being released for housebuilding to build-to-let development, and publish data on how this is done; and
•That the Government work with councils and the Greater London Authority to identify a number of sites where there is good demand for rental housing and make them available to developers on the grounds that a proportion of the homes built be let out to tenants.
(CD)
Related UK National News Stories
Click here for the latest headlines.
30 January 2015
More Than 350 Councils To Receive New Homes Bonus Payments
Housing Minister, Brandon Lewis, has published the final allocations of New Homes Bonus Payments to over 350 councils in England. The total awarded to councils since the scheme's introduction is£3.4 billion, for delivering more than 700,000 new homes and conversions, and bringing over 100,000 empty homes back into use.
More Than 350 Councils To Receive New Homes Bonus Payments
Housing Minister, Brandon Lewis, has published the final allocations of New Homes Bonus Payments to over 350 councils in England. The total awarded to councils since the scheme's introduction is£3.4 billion, for delivering more than 700,000 new homes and conversions, and bringing over 100,000 empty homes back into use.
10 July 2009
Scotland's Affordable Homes Hit 50 Year Low
Scotland has fewer social rented homes than it had 50 years ago, according to a report published today by housing and homelessness charity, Shelter Scotland.
Scotland's Affordable Homes Hit 50 Year Low
Scotland has fewer social rented homes than it had 50 years ago, according to a report published today by housing and homelessness charity, Shelter Scotland.
04 August 2010
Freedom Pass For Tenants 'Wrong'
The National Housing Federation has expressed great concern following the Government's announcement to end life time tenures for social homes. Housing Minister Grant Shapps introduced a new 'freedom pass' to move from home to work to be closer to family, and also pledged a new National Affordable Housing Swap Scheme.
Freedom Pass For Tenants 'Wrong'
The National Housing Federation has expressed great concern following the Government's announcement to end life time tenures for social homes. Housing Minister Grant Shapps introduced a new 'freedom pass' to move from home to work to be closer to family, and also pledged a new National Affordable Housing Swap Scheme.
17 August 2006
Government plugs £4.5m marine energy project
Plans for an ambitious, deep-sea electricity generation plant, sited in the waters 10 miles off the Cornish coast, moved a step closer today with the announcement of a significant funding boost from the DTI's Marine Renewables Deployment Fund.
Government plugs £4.5m marine energy project
Plans for an ambitious, deep-sea electricity generation plant, sited in the waters 10 miles off the Cornish coast, moved a step closer today with the announcement of a significant funding boost from the DTI's Marine Renewables Deployment Fund.
06 November 2015
Fire Damaged Hospital To Be Converted Into New Homes
Robertson Homes has revealed plans to convert a Victorian hospital in Inverness into new homes. The Craig Dunain hospital was badly damaged by a fire in September 2007. However, the developer has now submitted plans to the Highland Council to create 36 townhouses and 30 apartments. It is understood the project would cost approximately £13m.
Fire Damaged Hospital To Be Converted Into New Homes
Robertson Homes has revealed plans to convert a Victorian hospital in Inverness into new homes. The Craig Dunain hospital was badly damaged by a fire in September 2007. However, the developer has now submitted plans to the Highland Council to create 36 townhouses and 30 apartments. It is understood the project would cost approximately £13m.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
