Investment Property News - Bueno Investments Limited

Government’s Home Plans Criticised

The Government has been told that it needs to work with councils and private investors if it is to meet its target of building three million new homes by 2020.

According to the All Party Urban Development Group, local authorities need additional support, especially from the newly created Homes and Communities Agency (HCA), if the additional homes are to be delivered.

It warned that the HCA must avoid the “temptation” to nationalise housing policy, and should instead work in conjunction with local councils to address the different needs of housing markets, and utilise skills and investment from the public and private sector together.

While the group acknowledged that private sector landlords would have a vital role to play in delivering more homes across England, it added that individual buy-to-let properties would not make up the shortfall.

Clive Betts, chairman of the All Party Urban Development Group, said: “The HCA is in a strong position to bring housing expertise under one roof and give specialist advice to local authorities. However, more needs to be done to attract long term professional institutional investors into the private rented sector. Otherwise the number of homes will fall considerably short of the mark.”

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