Friday, 03 July 2015

Private rented sector review head seeks evidence

The head of a government review of barriers to large-scale investment in the private rented sector has issued a call for evidence.

Sir Adrian Montague is seeking views on what can be done to encourage institutional investors, such as pension funds, to take an interest in the sector.

In the call for evidence he notes the private rented sector has grown rapidly in recent years, but that very little housing is built purely for private rent because the sector is dominated by small landlords. He says there is an ‘opportunity for larger-scale investment targeted on new build housing for private rent’.

The government announced the review of investment in the private rented sector in its Laying the foundations housing strategy in November 2011, and appointed its head before Christmas.

Sir Adrian said he wants the study to build on previous work undertaken by the government.

‘I want to focus on two fundamental questions,’ he said. ‘Will the changes that the government has introduced go far enough to generate significant new flows of investment? And, if not, what can be done to accelerate things?’

The review will be supported by an expert reference group consisting of Vidhya Alakeson (Resolution Foundation), Graham Burnett (Universities Superannuation Scheme), Tim Brown (De Montfort University), Ian Fletcher (British Property Federation), Nick Jopling (Grainger), Victoria Mitchell (Savills), Martin Moore (Prudential Property Investment), Nick Salisbury (consultant), and Peter Vernon (Grosvenor).

Evidence should be submitted by 31 March with the recommendations due to be made to ministers in June.

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