The Government
today published a consultation document on the role the Private
Rented Sector should play in supporting the economic recovery and
increasing supply in the housing market.
The Private Rented Sector is a vital and growing part of the UK
housing market, representing around 14 percent of all households
in England, or around 3 million homes. The Government is keen to
ensure that the sector plays its part in meeting the UK's
housing needs.
Commenting on the publication of the consultation document, the
Exchequer Secretary to the Treasury, Sarah McCarthy-Fry said:
"The Government has provided significant support for the
housing sector through the downturn, with around half of all new
builds in the last 12 months having benefited from government support.
But the recent housing market downturn has had a significant
impact on housing supply, and as our economy recovers we need to
ensure that we look to all areas of the housing sector to meet
these pressures.
The Private Rented Sector has been the most affordable, flexible
and responsive segment of the market. We need to build on this to
ensure it can play its part in supporting the recovery and meeting
these urgent needs.
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."
This Treasury consultation is complemented by the Communities and
Local Government policy statement "The Private Rented
Sector: Professionalism and Quality: consultation responses and
next steps" also published today. 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.
The consultation can be found at:
http://www.hm-treasury.gov.uk/consult_investment_private_rented_sector.htm.
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PN 12/10
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HM Treasury Press Office
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