Private Landlords Encouraged To Fill Housing Gap
2010 could prove to be a profitable year for the private rented sector should the British Property Federation’s announcement be taken seriously.
In their latest conference the BPF revealed that the UK property market needs the support of professional landlords to help fill the growing housing gap that has been created by the lack of new builds over the last few years. With only 100,000 new properties being built in 2009, the likelihood that the government will hit their 3 million target is 2020 is becoming increasingly unlikely.
But that is not all…
According to Hometrack there is a massively developing gulf occurring between social housing and home ownership, where despite recent property price falls of 20%+, homeowners are still struggling to acquire the deposits they need to invest in property.
Furthermore, instead of being able to rely on social housing to help support them, a large percentage of homeowners are now discovering that they don’t qualify to go on the list.
Assessing this information, property advisors agree that action needs to be taken soon to bail out the public sector whose funding for social housing has all but disappeared. Without the initiation of new pension funds or the support of institutional investors, this situation is only set to get worse…
Speaking on these statistics, Ian Fletcher of the BPF believes the government can no longer remain muted about the need for a quality private rental sector. With more and more homeowners facing the dilemma of mortgage difficulty and the need to move to find new jobs, the buy to let market, now more than ever, needs to recieve more political attention and be used as part of a new business model to ensure the future well-being of the economy.
Related posts:
- Private Rental Sector Faces Severe Housing Shortage
- Private Rented Sector Grows In Popularity By 4.1%
- Shapps announces radical overhaul for social housing
- Social Housing To Fall 65%
- Social Housing List To Swell
Tags: buy to let, expert advice, invest in property, investment funds, private rented landlords, property advisors, property market
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