7
Apr
Private investment plan backed
A plan by the Homes and Communities Agency to increase private
rental housing supply through attracting institutional investors
and other long-term private investors has been backed by the
Federation of Master Builders (FMB).
Commenting that this year is currently expected to see only 70,000
new homes built - the lowest figure since 1921 - FMB director of
external affairs Brian Berry said: "Any plan that increases supply
can only be welcomed."
However, he suggested a number of other actions can be undertaken,
like cutting VAT on renovation work to five per cent to help get
the 942,000 empty homes in the UK back in use.
A "wider package" of measures is the answer to the issue, he
concluded.
Speaking of the body's plan, chief executive of the Homes and
Communities Agency Sir Bob Kerslake said the proposed investment
could be "another important way of stimulating the construction
industry", as well as being a method of dealing with "housing
shortages in the market-rent sector".
