Government urged to overhaul rental market
The country's biggest property developers and investors have called on the government to conduct a major overhaul of the buy-to-let market in an attempt to ease the property shortage.
The British Property Federation (BPF) handed over a report titled The Future of Renting to housing minister Caroline Flint at the BPF annual conference, which suggested that the UK should have a corporate rental sector similar to the one in Europe.
Ian Fletcher, residential director at the BPF, believes that this would result in continued investment into the sector and thousands of new homes.
He said: "We're in a ridiculous position where we have increasing demand yet house-builders are stepping out of the market because they have nobody to sell to.
"It would also ensure that the major house builders had someone to sell their stock to and that the public had the benefits of a branded rental sector," he added.
The National Landlords Association (NLA) last week recommended that landlords should gear their properties to target markets to ensure successful renting - citing the installation of broadband in properties to rent in London as a prime example.
Published 30th June, 2008
© 2008 Estates IT Limited
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The country's biggest property developers and investors have called on the government to conduct a major overhaul of the buy-to-let market in an attempt to ease the property shortage.