Tuesday, 21 October 2014

RICS heads commission to boost housing supply

The professional body for property professionals and surveyors has set up a commission to come up with recommendations to boost housing supply.

The Royal Institution of Chartered Surveyors is calling on its members to submit written evidence to find ways of delivering more homes where they are needed and of the right tenure.

It will also be taking oral evidence from the sector and wants to hear suggestions from a range of sources, including not-for-profit housing organisations, investors and developers.

Michael Newey, RICS president elect and chief executive officer of Broadland Housing, will chair the commission. It will investigate issues such as how housing should be subsidised, how existing stock could be improved and how to make affordable rented housing attractive to institutional investors.

Mr Newey said: ‘Since the recession first began there has been a great deal of discussion as to what should and shouldn’t be done to get housing supply moving again.

‘With the country well and truly in the grips of an economic downturn it is vital that the market is kept as buoyant and active as possible. This begins with boosting housing supply across the country in areas where it’s needed.’

RICS will produce a report from the evidence in June this year, and will then delivery this to housing minister Mark Prisk and shadow housing minister Jack Dromey. This will be done with the aim of influencing manifestos for the 2015 election.

Inside Housing is acting as media partner for the inquiry.

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