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Government launches Private Rented Sector consultation

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The government has published a consultation document regarding the Private Rented Sector’s role in economic recovery.

The Private Rented Sector, or PRS, has become a vital and growing aspect of the housing market, currently representing around 14% of all households in England. But the government is keen to make sure that the sector helps service a shortage in housing supplies.

“The Private Rented Sector has been the most affordable, flexible and responsive segment of the market,” said the Exchequer Secretary to the Treasury, Sarah McCarthy-Fry. “We need to build on this to ensure it can play its part in supporting the recovery and meeting urgent needs.”

Discussing the role of individual and institutional investment, the consultation has analysed the recession’s effects on average homeowner age and the rise in single people entering the sector.

“The consultation we are launching today will ensure that we fully understand the contribution the PRS can make, and identify any substantive barriers to investment,” added Ms McCarthy-Fry.

The consultation comes with an extensive range of questions regarding investment and has encouraged those affected to contact the government before the 12 week discussion period finishes on 28th April, after which the government will announce its findings.

Complementing the consultation, the Communities and Local Government policy statement said: “Taken together, steps to raise quality and identify any barriers to investment should reinforce each other and create a better private rented sector that can become the tenure of choice for a wider range of people.”

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Written by Andrew Hodges

February 11, 2010 at 6:42 pm

Posted in Comment, LinkedIn

Tagged with , ,

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