MPs tell government to build 50,000 new rentable homes per year |
21 2008 |
| The government has been urged to build 50,000 new homes a year across the UK for renting purposes by a committee of MPs. The House of Commons Communities and Local Government Committee outlined the need for further investment to ensure that the construction target is met, despite increases in spending already occurring recently. The committee, chaired by Labour MP Phyllis Starkey, explained that focusing on the sector is crucial as demand continues to grow amidst the current uncertain financial climate. She said: "Compared to ownership, renting is often seen as second best; but this perception is unhelpful. A lot of people rely on the rented sector and their needs and aspirations are every bit as important as those of homeowners." The MPs also commented that they were "particularly concerned" with the growing trend of 'buy-to-leave', whereby landlords purchase properties then leave them empty to allow growth through capital appreciation. In central Leeds, for instance, this practice has left up to 30 per cent of new apartments uninhabited - causing an unnecessary strain on would-be renters.  |
Related Articles |
| Mayfair home falls down in credit crunch |
| A £20 million London property has become the latest victim in the... |
| House prices have 'no reason' to stabilise soon |
| The idea held by many that Britain's house prices will steady as a result... |
| Which? publishes help for 'accidental landlords' |
| Consumer organisation Which? has created a book to aid landlords in the... |
| Private landlords 'should be encouraged' |
| The private rental sector should be supported and expanded, and buy-to-let... |
| Annual price drop reaches 8.1% |
| A relatively modest annual price drop has been recorded by Hometrack this... |
Copyright © 1995-2008 loot.com. All Rights Reserved. Designated trademarks and brands are the property of their respective owners. Use of this Web site constitutes acceptance of the loot