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BPF criticises failure to support new housing investment

In June, the HCA received expressions of interests from over 60 firms including Aviva, Legal and General, ING and Grainger, the UK’s leading private landlord.

HCA chief Sir Bob Kerslake said the Agency was keen to progress the initiative and was prepared to offer site-by-site assistance and access to new housing and land via its Kick Start and Public Land initiatives.

Liz Peace, chief executive of the British Property Federation, said: "Certainly there is no lack of interest from the institutions – or will from the HCA – but pension fund allocation managers are rightly nervous of investing in this initiative when central government is so timid in its public support

"The real pity is that there is a severe shortage of finance for building at present and no end to people in need of a home. Build-to-let could unlock substantial sums to invest in housing with just a little more overt and tangible support from government."

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