Duncan Lewis

Residential Property

Commercial Property

The new housing minister called housing association to help build new homes for private rent

Date: (18 September 2012)    |    

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The Housing Minister Mark Prisk in his first speech urged the housing associations to turn their expertise in providing social homes to also build new homes for private rent.
He called on the Landlords to bid for a share of a £10billion Government Guarantee and give a fillip to building in Britain by delivering homes built for new tenants, whether in social homes or for private rent.
A review of the private rented sector by Sir Adrian Montague highlighted real potential for the development of homes built specifically for private rent, with funding for these new properties coming from institutional investors.
Mr Prisk in his speech to the National Housing Federation in Birmingham argued that social landlords could also make the most of the potential that Sir Adrian’s report identified.
The Minister pointed to Thames Valley Housing Association's "Fizzy Living" scheme, which offers newly-built flats for rent on the open market in London's East End, and urged more landlords to the initiative.
Housing associations were told how their years of experience and expertise in providing homes to rent and buy, could be used to deliver services for social tenants and offer homes for private tenants.
The Government had brought forward a range of positive measures to get Britain building.
Last week the Government brought forward a range of positive measures to get Britain building. Which include new legislation for Government guarantees of up to £10billion for new rented homes and £300million capital funding towards delivering up to 15,000 new affordable homes and bringing 5,000 empty homes back into use?
Mr Prisk will point out that landlords could be using these to make the most of this potential market.
Mark Prisk said that there was a tremendous opportunity in this area as there is already a massive demand for housing in the private rented sector. Housing associations already provide excellent services to their tenants, but the potential to offer homes to a much wider group of people.
By making the most of the new and positive measures that the government was taking, social landlords could branch out and provide the spark to get Britain building he added.