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Time to ‘think differently’ as housing starts plummet 11%

The BPF has been calling for the expansion of an institutionally funded private rented sector, which could bring badly needed new funding to develop quality homes for longer-term rent, and meet some of the shortfall in housing building.

Ian Fletcher, director of policy at the British Property Federation, said: “Against the backdrop of these figures we need to seriously think about how we’re going to build the homes this country needs to meet growing demand.

“As things stand the owner occupied model just isn’t delivering the required numbers, and we need to focus on a range of options.

“To improve overall housing supply it needs to be affordable, does not require access to mortgage finance and not put undue strain on tight public finances. An institutional-funded professional rented sector, building to let, ticks all these boxes.”

Steve Lees, Director at SmartNewHomes, comments:

"Despite a raft of initiatives being introduced to kick start house building, the Government has so far failed to deliver the number of new homes needed. Just 98,000 homes were started last year compared to a target of 232,000. It’s crucial that the Government takes action to ensure that changes to speed up planning decisions and cut red tape are pushed through regionally and start translating into an increase in housebuilding immediately."

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