new build homes
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Housing Market
Stimulating institutional investment is key to success of PRS
London property consultancy Daniel Watney LLP is calling on the Government to encourage further institutional investment as a means of improving the private rented sector, rather than relying on extra regulations for landlords and agents. It is well documented that significantly more new build homes are needed to help solve the UK’s housing shortage, and Daniel Watney believe that new funding from institutional investment can play an important role in contributing to the rise in housing supply, as well as addressing pricing issues in the housing sector. The comments come ahead of the Department for Communities and Local Government launching a new consultation on how to best tackle to rogue landlords and drive up standards in the private rental market. Julian Goddard, head of residential at Daniel Watney, said, “As the consultation paper itself acknowledges, rogue landlords are very much the minority, with the overwhelming majority of tenants satisfied with the accommodation and service they receive from their landlord. “The best way to improve the private rental market is not to burden landlords with excessive regulation, as the proposed immigration checks will do, and to encourage further institutional investment, which will allow for more purpose-built rental accommodation to be built,…
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Housing Market
Political parties set to fail on house building promises
All the major political parties are proposing to develop at least 200,000 new build homes a year if elected to power this week to help tackle the housing shortage, but new research shows that level of house building may be unachievable under existing market conditions. Knight Frank’s latest Housebuilding Report reveals that more than two thirds of residential property developers in the UK believe that it would be impossible to deliver more than 180,000 new homes a year as things stand. More than 160 respondents from house-builders and developers across the country took part in Knight Frank’s annual survey, with 67 per cent of respondents stating that the maximum sustainable annual delivery of new homes was 180,000 or less. Just 9 per cent said it was possible to build more than 200,000 residential units a year. Over half of all developers and house-builders said a rise in the delivery of affordable homes over the next year was unlikely. However, around 60 per cent expect a continued rise in the number of total housing starts and completions over the next 12 months. With a general shortage of new homes coming onto the market, 78 per cent of respondents expect new-build prices…
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